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The only job still in process at 30 April 2020 was L49. All other jobs were completed during the month. Job C23 was completed at a total cost of R25 630, this amount includes applied overhead costs of R1 410. Sales during April were as follows: A33: All 20 racquets were sold at cost plus 40% mark-up. F54: 23 racquets were sold at a price of R290 per racquet. C23: All 55 racquets were sold at cost plus 35% mark-up. Actual factory overheads for April 2020 were R3 250. Marketing and distribution expenses amount to R4 700 for the month of April 2020. Ignore spoilage. Required: Round to two decimal places where necessary. Q.7.1 Calculate the cost of jobs A33 and F54 completed during April 2020. Q.7.2 Calculate the closing work-in-process as at 30 April 2020.

The only job still in process at 30 April 2020 was L49. All other jobs were completed during the month. Job C23 was completed at a total cost of R25 630, this amount includes applied overhead costs of R1 410. Sales during April were as follows: A33: All 20 racquets were sold at cost plus 40% mark-up. F54: 23 racquets were sold at a price of R290 per racquet. C23: All 55 racquets were sold at cost plus 35% mark-up. Actual factory overheads for April 2020 were R3 250. Marketing and distribution expenses amount to R4 700 for the month of April 2020. Ignore spoilage. Required: Round to two decimal places where necessary. Q.7.1 Calculate the cost of jobs A33 and F54 completed during April 2020. Q.7.2 Calculate the closing work-in-process as at 30 April 2020.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The only job still in process at 30 April 2020 was L49. All other jobs were completed during the month. Job C23 was completed at a total cost of R25 630, this amount includes applied overhead costs of R1 410. Sales during April were as follows: A33: All 20 racquets were sold at cost plus 40% mark-up. F54: 23 racquets were sold at a price of R290 per racquet. C23: All 55 racquets were sold at cost plus 35% mark-up. Actual factory overheads for April 2020 were R3 250. Marketing and distribution expenses amount to R4 700 for the month of April 2020. Ignore spoilage. Required: Round to two decimal places where necessary. Q.7.1 Calculate the cost of jobs A33 and F54 completed during April 2020. Q.7.2 Calculate the closing work-in-process as at 30 April 2020.
Transcribed Image Text:The only job still in process at 30 April 2020 was L49. All other jobs were completed during the month. Job C23 was completed at a total cost of R25 630, this amount includes applied overhead costs of R1 410. Sales during April were as follows: A33: All 20 racquets were sold at cost plus 40% mark-up. F54: 23 racquets were sold at a price of R290 per racquet. C23: All 55 racquets were sold at cost plus 35% mark-up. Actual factory overheads for April 2020 were R3 250. Marketing and distribution expenses amount to R4 700 for the month of April 2020. Ignore spoilage. Required: Round to two decimal places where necessary. Q.7.1 Calculate the cost of jobs A33 and F54 completed during April 2020. Q.7.2 Calculate the closing work-in-process as at 30 April 2020.
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