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QUESTION 3 XYZ Ltd manufactures a range of products in a variety of processes. One such product, Product X, is the output of three consecutive processes, Process 1, Process 2 and Process 3. The data below relate to process 2 for the month of March 2011: it. III. iv. vi. vil. Opening work-in-progress was 1 000 units, with a total cost of R15 300, and at the following degrees of completion: Process 1 transferred-in costs Process 2 material Conversion costs Total The following costs were incurred in Process 2 during the month: R21 900 R62 024 R83.924 100% 100% 80% An additional 11 000 units were transferred into Process 2 from Process 1 in March 2011 at a charge of R82 220. Materials Conversion costs Total REQUIRED: R 7540 R 2500 R 5 260 R15 300 Raw material is added at the 60% stage of completion in Process 2. Normal losses are determined at the 40% completion stage of the process. These losses are calculated at 10% of the number of units reaching the inspection point. Any abnormal losses or gains are identified at this point. Units rejected and removed from the assembly line at the 40% stage of completion have no scrap value. Closing work-in-progress at 31 March 2011 was 1 200 units, averaging 30% complete. A total of 10 000 units was completed and transferred to Process 3 during the month. ● Statement of equivalent units ● Production cost statement ● Process account. 1. Prepare, using the weighted average method of allocation, the following for the period ended 31 March 2011:

QUESTION 3 XYZ Ltd manufactures a range of products in a variety of processes. One such product, Product X, is the output of three consecutive processes, Process 1, Process 2 and Process 3. The data below relate to process 2 for the month of March 2011: it. III. iv. vi. vil. Opening work-in-progress was 1 000 units, with a total cost of R15 300, and at the following degrees of completion: Process 1 transferred-in costs Process 2 material Conversion costs Total The following costs were incurred in Process 2 during the month: R21 900 R62 024 R83.924 100% 100% 80% An additional 11 000 units were transferred into Process 2 from Process 1 in March 2011 at a charge of R82 220. Materials Conversion costs Total REQUIRED: R 7540 R 2500 R 5 260 R15 300 Raw material is added at the 60% stage of completion in Process 2. Normal losses are determined at the 40% completion stage of the process. These losses are calculated at 10% of the number of units reaching the inspection point. Any abnormal losses or gains are identified at this point. Units rejected and removed from the assembly line at the 40% stage of completion have no scrap value. Closing work-in-progress at 31 March 2011 was 1 200 units, averaging 30% complete. A total of 10 000 units was completed and transferred to Process 3 during the month. ● Statement of equivalent units ● Production cost statement ● Process account. 1. Prepare, using the weighted average method of allocation, the following for the period ended 31 March 2011:

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 10E: Costs per equivalent unit Georgia Products Inc. completed and transferred 89,000 particle board...
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QUESTION 3 XYZ Ltd manufactures a range of products in a variety of processes. One such product, Product X, is the output of three consecutive processes, Process 1, Process 2 and Process 3. The data below relate to process 2 for the month of March 2011: ii. iv. vi. vil. Opening work-in-progress was 1 000 units, with a total cost of R15 300, and at the following degrees of completion: Process 1 transferred-in costs Process 2 material Conversion costs Total An additional 11 000 units were transferred into Process 2 from Process 1 in March 2011 at a charge of R82 220. The following costs were incurred in Process 2 during the month: R21 900 R62 024 R83 924 REQUIRED: 100% 100% 80% Materials Conversion costs Total Raw material is added at the 60% stage of completion in Process 2. Normal losses are determined at the 40% completion stage of the process. These losses are calculated at 10% of the number of units reaching the Inspection point. Any abnormal losses or gains are identified at this point. R 7540 R 2500 R 5 260 R15 300 Units rejected and removed from the assembly line at the 40% stage of completion have no scrap value. Closing work-in-progress at 31 March 2011 was 1 200 units, averaging 30% complete. A total of 10 000 units was completed and transferred to Process 3 during the month. . Statement of equivalent units . Production cost statement Process account. 1. Prepare, using the weighted average method of allocation, the following for the period ended 31 March 2011:
Transcribed Image Text:QUESTION 3 XYZ Ltd manufactures a range of products in a variety of processes. One such product, Product X, is the output of three consecutive processes, Process 1, Process 2 and Process 3. The data below relate to process 2 for the month of March 2011: ii. iv. vi. vil. Opening work-in-progress was 1 000 units, with a total cost of R15 300, and at the following degrees of completion: Process 1 transferred-in costs Process 2 material Conversion costs Total An additional 11 000 units were transferred into Process 2 from Process 1 in March 2011 at a charge of R82 220. The following costs were incurred in Process 2 during the month: R21 900 R62 024 R83 924 REQUIRED: 100% 100% 80% Materials Conversion costs Total Raw material is added at the 60% stage of completion in Process 2. Normal losses are determined at the 40% completion stage of the process. These losses are calculated at 10% of the number of units reaching the Inspection point. Any abnormal losses or gains are identified at this point. R 7540 R 2500 R 5 260 R15 300 Units rejected and removed from the assembly line at the 40% stage of completion have no scrap value. Closing work-in-progress at 31 March 2011 was 1 200 units, averaging 30% complete. A total of 10 000 units was completed and transferred to Process 3 during the month. . Statement of equivalent units . Production cost statement Process account. 1. Prepare, using the weighted average method of allocation, the following for the period ended 31 March 2011:
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