Question
Assume that the following details refer to Process Bottling for March 2023. Units Units of Incomplete work (Opening) (100% complete Materials, 40 % Complete in
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) 12 000 Units received from previous process 21 000 Units Completed and transferred 33 000 Units of Incomplete Work (Closing) 24 000 (100% complete Materials, 70% complete in Conversion costs) 9000 Cost Details R Incomplete work (opening) 80 175 Cost of previous Process 63 150 Direct Material 11 340 Conversion Costs 5 685 Costs Incurred During March 172 650 Transferred from previous process 113 400 Direct Material 21 000 Conversion costs 38 250 252 825 ANSWER THE FOLLOWING QUESTIONS USING THE WEIGHTED AVERAGE OR FIFO METHOD. CHOOSE ONLY ONE METHOD AND CLEARLY STATE YOUR METHOD OF CHOICE. a) Prepare the process cost report (21 Marks) b) Prepare a cost statement (15 Marks) c) Prepare a cost allocation statement (14 Marks)
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