{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T07:24:07-04:00", "answer_date": "2024-06-28 07:24:07", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4262833", "url": "\/study-help\/questions\/part-11-15-maphitha-limited-produces-a-single-type-of-4262833", "question_creation_date_js": "2024-06-28T07:24:07-04:00", "question_creation_date": "Jun 28, 2024 07:24 AM", "meta_title": "[Solved] PART 1.1 {15} Maphitha Limited produces a | SolutionInn", "meta_description": "Answer of - PART 1.1 {15} Maphitha Limited produces a single type of a product. The company uses an actual costing system. The fol | SolutionInn", "meta_keywords": "part,1.1,15,maphitha,limited,produces,single,type,product,company,actual,costing", "question_title_h1": "PART 1.1 {15} Maphitha Limited produces a single type of a product. The company uses an actual costing system. The following information has been taken", "question_title": "PART 1.1 {15} Maphitha Limited produces a single type of a product.", "question_title_for_js_snippet": "PART 1 1 15 Maphitha Limited produces a single type of a product The company uses an actual costing system The following information has been taken from the company's production and sales records for the month of April 2021 Sales units 4 000 units Finished goods Balance as at 01 April 2021 1 000 units Balance as at 30 April 2021 2 000 units Raw material Balance as at 01 April 2021 500 kg R46,50 per kg Bought during the month 1 500 kg R47,00 per kg Balance as at 30 April 2021 300 kg per kg Work in process Balance as at 01 April 2021 R 4 800 Balance as at 30 April 2021 2 750 Conversion costs R Direct labour costs 84 000 Manufacturing overhead incurred 59 300 Additional information The finished goods are carried at the average unit production cost for the month Raw material is valued according to the FIFO method of inventory valuation REQUIRED Calculate the following for April 2021 1 1 1 Number of units produced (3) 1 1 2 Cost of raw materials transferred to production (4) 1 1 3 Cost of goods manufactured (3) 1 1 4 Cost of each completed unit (2) 1 1 5 Cost of goods sold (2)", "question_description": "

PART 1.1 {15} Maphitha Limited produces a single type of a product. The company uses an actual costing system. The following information has been taken from the company's production and sales records for the month of April 2021: Sales units........................................................................................................................... 4 000 units Finished goods: Balance as at 01 April 2021................................................................................................. 1 000 units Balance as at 30 April 2021................................................................................................. 2 000 units Raw material: Balance as at 01 April 2021......................................................................... 500 kg @ R46,50 per kg Bought during the month.............................................................................. 1 500 kg @ R47,00 per kg Balance as at 30 April 2021......................................................................... 300 kg @? per kg Work-in-process: Balance as at 01 April 2021...................................................................................................... R 4 800 Balance as at 30 April 2021...................................................................................................... 2 750 Conversion costs: R Direct labour costs..................................................................................................................... 84 000 Manufacturing overhead incurred.............................................................................................. 59 300 Additional information: The finished goods are carried at the average unit production cost for the month. Raw material is valued according to the FIFO method of inventory valuation. REQUIRED: Calculate the following for April 2021: 1.1.1 Number of units produced (3) 1.1.2 Cost of raw materials transferred to production (4) 1.1.3 Cost of goods manufactured (3) 1.1.4 Cost of each completed unit (2) 1.1.5 Cost of goods sold. (2)<\/p>", "transcribed_text": "", "related_book": { "title": "Managerial Accounting Tools for Business Decision Making ", "isbn": "1118856996, 978-1118856994", "edition": "4th Canadian edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1190.jpg", "uri": "\/textbooks\/managerial-accounting-tools-for-business-decision-making-4th-canadian-edition-1190", "see_more_uri": "" }, "free_related_book": { "isbn": "0745333729", "uri": "\/textbooks\/dream-zones-anticipating-capitalism-and-development-in-india-1st-edition-978-0745333724-286446", "name": "Dream Zones Anticipating Capitalism And Development In India", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:24:07", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/mesa-inc-obtained-80-percent-of-butte-corporation-on-january", "description": "Mesa, Inc., obtained 80 percent of Butte Corporation on January 1, 2009. 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