11) Zara company Lid manufactures a single product and employs process costing. For the month ended 31" December 2021 data relating to the last production process is as follows Input Units Costs 5,000 Previous process Materials Labour Overhead Output in the month was 3,600 units completed. Although normal loss is 4%, actual loss was 400 units complete in all respects On December 31" 2021 there were 1000 units of work in process (W.1.P) completed as follow; Materials Labour Overhead Required a) i) cost per unit 80% 40% 20% ii) The value of W.I.P 125000 96,000 44,000 21,000
11) Zara company Lid manufactures a single product and employs process costing. For the month ended 31" December 2021 data relating to the last production process is as follows Input Units Costs 5,000 Previous process Materials Labour Overhead Output in the month was 3,600 units completed. Although normal loss is 4%, actual loss was 400 units complete in all respects On December 31" 2021 there were 1000 units of work in process (W.1.P) completed as follow; Materials Labour Overhead Required a) i) cost per unit 80% 40% 20% ii) The value of W.I.P 125000 96,000 44,000 21,000
Chapter5: Process Costing
Section: Chapter Questions
Problem 5EA: A company has 1,500 units in ending work in process that are 30% complete after transferring out...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub