Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 4 4.1 a toothpaste manufacturer uses pr

QUESTION 4 4.1 A toothpaste manufacturer uses process costing technique for the packaging...

50.1K

Verified Solution

Question

Accounting

QUESTION 4
4.1 A toothpaste manufacturer uses process costing technique for the packaging department. The following information is known for October 2023:
a.1st October, there are 100000 units of work in process which consists of R50000 in direct material and R80000 in conversion costs.
b. During the month, 40000 units are transferred to the department. R40000 is direct material cost and R30000 is conversion cost.
c. In the same month, 30000 units are completed and transferred out from the packaging department to the next department complete for direct material and conversion cost).
d. At the end of the period, 10000 units are still in process, of which 100% are complete in regard to direct material and 50% are complete in regard to conversion cost.
9
INC2601/103/0/2024
4.1.1 Use the weighted average method to assign costs to (1) completed units transferred out and (2) units in ending WIP inventory. Show full calculations.
(10)
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students