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I help to do conversion cost, may I have the whole procedure to solve how the cost convention is calculated? Scenario Kerr Deliveries is a

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I help to do conversion cost, may I have the whole procedure to solve how the cost convention is calculated?

image text in transcribed
Scenario Kerr Deliveries is a successful delivery company in NSW. You are employed there as a financial assistant reporting to the Chief Financial Officer (CFO). Your duties include creating and maintaining asset registers for each of the business's fixed assets, coding accounts as necessary and entering information to the organisation's accounting software system. Early this financial year, Kerr Deliveries purchased paper and cardboard supplies on credit. The details were recorded in the purchases journal as below. Purchases Journal (PJ01) 1 2 3 5 6 7 Date Creditor Folio no. Invoice Stock GST Creditor details no. purchas s control e 1/7/20XX ABC Paper 1 7731 3000 300 3300 2/7/20XX Argo 2 7732 4000 400 4400 Packing 3/7/20XX ABC Paper 3 7733 5000 500 5500 Using the above supplies, Kerr Deliveries' subsidiary company produced and sold 20,000 boxes. In addition to the purchase of the raw materials, the company expended (used) $28,000 in labour and overhead expenses. Kerr Deliveries also used cash to purchase a motor vehicle for sales this financial year. The details are below

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