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Information relating to two processes (F and G) was as follows:ProcessNormal loss (as% of input)Input (litres)Output (litres)F865,00058,900G537,50035,700For each process, was there an abnormal loss or an abnormal gain?Process FProcess G
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A company operates a process costing system using the first-in-first-out (FIFO) method of valuation. No losses occur in the process. All materials are input at the commencement of the process. Conversion costs are incurred evenly through the process. The following data relate to last period:Units Degree of completionOpening work in progress2,00060%Total number of units completed14,000Closing work in progress3,000 30%Costs arising:Materials$51,000Conversion$193,1701）what was the total number of units input during last period?
A company operates a process costing system using the first-in-first-out (FIFO) method of valuation. No losses occur in the process. All materials are input at the commencement of the process. Conversion costs are incurred evenly through the process. The following data relate to last period:Units Degree of completionOpening work in progress2,00060%Total number of units completed14,000Closing work in progress3,000 30%Costs arising:Materials$51,000Conversion$193,1702) What was the value of the closing work in progress for last period?
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?
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
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