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Assume that the following details refer to Process Bottling for March 2023. Units Units of Incomplete work (Opening) (100% complete Materials, 40% Complete in conversion
Assume that the following details refer to Process Bottling for March 2023. Units Units of Incomplete work (Opening) (100% complete Materials, 40% Complete in conversion costs) 12000 Units received from previous process 21000 Units Completed and transferred 33000 Units of Incomplete Work (Closing) 24000 (100% complete Materials, 70% complete in 9000 Conversion costs) R Cost Details 80175 Incomplete work (opening) 63150 Cost of previous Process 11340 Direct Material 5685 Conversion Costs 172.650 Costs Incurred During March 113400 Transferred from previous process 21000 Direct Material 38250 Conversion costs 252825 ANSWER THE FOLLOWING QUESTIONS USING FIFO METHOD a) Prepare the process cost report (21 Marks) b) Prepare a cost statement (15 Marks) c) Prepare a
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