Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show working to let me understand the problem & its solution * Use your own format for (iii), Exhibit is not required Part A

image text in transcribed

image text in transcribed

Please show working to let me understand the problem & its solution

* Use your own format for (iii), Exhibit is not required

Part A -Weighted Average Cool Fizzy Ltd's division A produces soft drinks in standard sizes. Set out below is information for the month of January: 4,000 units $6,000 $12,000 8,000 units 8,000 units Work-in-process inventory, 1 January Direct materials: 100% complete Conversion: 50% complete Units started during January Units completed and transferred out during January Work-in-process inventory, 31 January Direct materials: 100% complete Conversion costs: 50% complete Costs incurred during January Direct materials Conversion $12,000 $128,000 Required: Show ALL your workings. Using the weighted average method complete, the following. Calculate equivalent units of direct materials and conversion for the month of January. (4 marks) (i) () Calculate direct material cost and conversion cost per equivalent unit for the month of (8 marks) January. (ii) Prepare an analysis of total costs showing the cost of goods completed and transferred out during January and cost of WIP inventory on 31 January, as per Exhibit 5.4 (p.192) (4 marks) of the textbook

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit And Trace Log Management Consolidation And Analysis

Authors: Phillip Q. Maier, Bennett Rothke

1st Edition

0849327253, 978-0849327254

More Books

Students also viewed these Accounting questions