Process 2 receives units from Process 1 and after carrying out work on the units transfers them

Question:

Process 2 receives units from Process 1 and after carrying out work on the units transfers them to Process 3. For the accounting period the relevant data were as follows:

The costs of the period were Rs. 33,160 and no units were scrapped.

Required:

Prepare the Process Account for Process 2 using the Average Cost Method of valuation.

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Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

Question Posted: Sep 05, 2023 01:15 PM

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Process 2 receives units from Process 1 and after carrying out work on the units transfers them

Question:

Opening WIP 200 units (25% complete) valued at 800 units received from Process I valued at 840 units were transferred to Process 3 Closing WIP 160 units (50% complete) Rs. 5,000 Rs. 8,600

Step by Step Answer:

To prepare the Process Account for Process 2 using the Average Cost Method of valuation we need to c...View the full answer

Cost Accounting

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