Archiewill in conjunction with Mattell are investigating expanding their merchandise range to include signature Duke and Duchess of Queensland barbie dolls.The dolls will be manufactured on the production line and then individually hand packaged into a collectors box made from sustainable products. All the raw materials are added at the commencement of the process.The packaging are introduced when the manufacturing process is 80% complete.For the purposes of accounting the conversion costs of manufacturing are assumed to occur evenly across the whole of the production cycle. The information below relates to the manufacturing process during the month of March:

 

Work in process 01/03/2023 Raw materials Packaging Conversion Work in process - 31/03/2023 WIP 31/03/2023 complete Dolls commenced in March Costs incurred Raw materials Packaging Conversion 12,500 Stage of completion Value 100% $ 12,000 100% $ 35,250 75% $ 27,000 $ 240,000 $ 24,000 $ 120,000 14550 70% 65000