c) The following data relates to Tramming process of the mining operations for the accounting period 2. Opening balances were 800 units of partly completed units as follow: Cost K '000 8.200 Completion % 100 Materials from Crushing Materials introduced Labour Overheads 5,600 3,200 2,400 55 60 45 During the period 4,300 units were transferred from Crushing at a value of K46, 500,000 K, 000 24,000 19,500 18,200 and other costs were as follows; Materials Labour Overheads Work In Progress at the end of period 2 was 600 units and the degree of completion was as follows: Input materials Introduced materials Labour Overheads 100% 50% 45% 40% 4,500 units were deemed finished and transferred to finished goods account. Prepare a process account for Tramming process using FIFO method.
c) The following data relates to Tramming process of the mining operations for the accounting period 2. Opening balances were 800 units of partly completed units as follow: Cost K '000 8.200 Completion % 100 Materials from Crushing Materials introduced Labour Overheads 5,600 3,200 2,400 55 60 45 During the period 4,300 units were transferred from Crushing at a value of K46, 500,000 K, 000 24,000 19,500 18,200 and other costs were as follows; Materials Labour Overheads Work In Progress at the end of period 2 was 600 units and the degree of completion was as follows: Input materials Introduced materials Labour Overheads 100% 50% 45% 40% 4,500 units were deemed finished and transferred to finished goods account. Prepare a process account for Tramming process using FIFO method.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:c) The following data relates to Tramming process of the mining operations for the
accounting period 2. Opening balances were 800 units of partly completed units as
follow:
Completion %
100
Cost K 000
Materials from Crushing
Materials introduced
8.200
5,600
3,200
2,400
55
Labour
60
Overheads
45
During the period 4,300 units were transferred from Crushing at a value of K46, 500,000
K, 000
24,000
19,500
18,200
and other costs were as follows;
Materials
Labour
Overheads
Work In Progress at the end of period 2 was 600 units and the degree of completion was
as follows:
Input materials
100%
Introduced materials
50%
45%
40%
Labour
Overheads
4,500 units were deemed finished and transferred to finished goods account.
Prepare a process account for Tramming process using FIFO method.
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