COST ACCOUNTING- Process CostingMake a table for the solution. Compute for the equivalent production of the following case using average method. Case EsAbnormal loss of 2,000 units occurs at the end of the process.In process, beg..........….…...................….......Received from preceding dept.............In process, end.........12,000 units, 1/5 done50,000 unita9,000 units, 1/4 done

Name: COST ACCOUNTING- Process CostingMake a table for the solution. Compute
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Description: COST ACCOUNTING- Process CostingMake a table for the solution. Compute for the equivalent production of the following case using average method. Case EsAbnormal loss of 2,000 units occurs at the end of the process.In process, beg..........….…........

The equivalent units are calculated on the basis of percentage of the work completed during the…

Business

Accounting

E: Abnormal loss of 2,000 units occurs at the end of the process. In process, beg.. *** Received from preceding dept........ ....….…................…......... ***.................. In process, end ************** 12,000 units, 1/5 done 50,000 units 9,000 units, 1/4 done

E: Abnormal loss of 2,000 units occurs at the end of the process. In process, beg.. * Received from preceding dept........ ....….…................…......... *.................. In process, end ************** 12,000 units, 1/5 done 50,000 units 9,000 units, 1/4 done

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1EA: How many units were started into production in a period if there were zero units of beginning work...

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iii)Calculate:- Cost per unit of finished product, by element of cost and total.- Cost of units transferred to process 3- Cost of abnormal loss/gain- Cost of uncompleted units in WIP at the end of October.
Basic. R makes one product, which passes through a single process. Details of the process account for period 1 were as follows: $ Material cost – 20 000kg 26 000 Labour cost 12 000 Production overhead cost 5 700 Output 18 800kg Normal losses 5% of input There was no work in progress at the beginning or end of the period. Process losses have no value. The cost of the abnormal loss (to the nearest $) is: (a) $437 (b) $441 (c) $460 (d) $465 CIMA Fundamentals of Management
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Assume was a loss of 10,000 units, normal loss of company is 5% of good units which are discovered at the 60% stage of completion which is the inspection point. What is the cost of goods completed and transferred to be recorded? P187,177.13 P193,986.11 P188,074.92 P187,808.48
Assume was a loss of 10,000 units, normal loss of company is 5% of good units which are discovered at the 60% stage of completion which is the inspection point. What is the cost of Work in process, ending to be recorded? P5,933.89 P11,516.44 P5,966.27 P6,183.89
A process with no beginning work in process, completed and transfered out 845000 units during a period and had 49700 units in the ending work in process inventory that were 40% complete. The equivalent units of production for the period for conversion costs were?
Total direct materials cost incurred in the current period is $90,000. Units completed during the current period plus equivalent units in ending work in process inventory are 18,000. The direct materials cost per equivalent unit for the current period is $4.5 True False
Product X is obtained after it passes through three distinct processes. The following cost information is available for the operation. Total Process 1 Process 2 Process 3 Direct materials added $15,084 $5,200 $3,960 $5,924 Direct wages 18,000 4,000 6,000 8,000 Production overhead 18,000 1,000 units @ $6.00 per unit were introduced in Process 1. Production overhead is to be distributed as a percentage of direct wages. Actual Output Units Normal Loss Scrap Value per Unit Process 1 950 5% $4.00 Process 2 840 10% $8.00 Process 3 750 15% $10.00 Prepare the process accounts and post your responses in the Discussion Forum.
8000 units were introduced in the process. Normal loss is 5%. 6600 units were transferred to the next process. WIP is 1000 units which is 60% complete. Find equivalent units.
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