题目内容
Company uses process costing to establish the cost per unit of its output. The following information was available for the last month:Input units10,000Output units9,850Opening stock300 units, 100% complete for materials and 70% complete for conversion costsClosing stock450 units, 100% complete for materials and 30% complete for conversion costsThe company uses the weighted average method of valuing stock.What were the equivalent units for conversion costs?
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The following information relates to questions 1) and 2):A company operates a process costing system using the first in first out (FIFO) method of valuation. No losses occur in the process.The following data relate to last month:Units Degree of completion ValueOpening work in progress10060%$680Completed during the month900Closing work in progress15048%The cost per equivalent unit of production for last month was $12.1) What was the value of the closing work in progress
The following information relates to questions 1) and 2):A company operates a process costing system using the first in first out (FIFO) method of valuation. No losses occur in the process.The following data relate to last month:Units Degree of completion ValueOpening work in progress10060%$680Completed during the month900Closing work in progress15048%The cost per equivalent unit of production for last month was $12.2) What was the total value of the units completed last month?
A company uses process costing to value its output and all materials are input at the start of the process. The following information relates to the process for one month:Input3,000 unitsOpening stock 400 unitsLosses10% of input is expected to be lostClosing stoc200 unitsHow many good units were output from the process if actual losses were 400 units?
In a process where there are no work-in-progress stocks, two joint products (J and K) are created. Information(in units) relating to last month is as follows:Joint production costs last month were $110,000 and these were apportioned to joint products based on the number of units produced.What were the joint production costs apportioned to product J for last month.
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