Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pliz help urgently only have 3 0 mins only QUESTION 3 3 . 1 Tiger food brands uses a process costing system for the production
pliz help urgently only have mins only QUESTION
Tiger food brands uses a process costing system for the production of baked beans.
Four departments, namely, rehydration; mixing; cooking and packaging are involved
in the production process. The following transactions are given:
a Products with a cost of R are transferred from the rehydration department to
the mixing department.
b Products with a cost of R are transferred from the mixing department to the
cooking department.
c Products with a cost of R are transferred from the cooking department to the
packaging department.
d Products with a cost of R are transferred from the packaging department to
the finished goods warehouse.
e Products with a cost of R are sold to customers.
Prepare a journal entry to reflect the flow of product from one department to
the other.
SAFAA Manufacturers uses process costing for their packaging department. The
following information is known for the month of January :
a In the beginning of the month, there are units in work in progress which
consists of R direct material and R conversion costs.
b During the month, units are transferred to the department. R is direct
material cost and R is conversion cost.
c In the same month, units are completed and transferred out including
units in beginning WIP from the packaging department to the finished goods
warehouse. complete for direct material and conversion cost.
d At the end of the period, units are still in process, of which are complete
in regard to direct material cost and are complete in regard to conversion cost.
Use the weighted average method to assign costs to completed units
transferred out and units in ending WIP inventory. Present your answer in
a table and show full calculations.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started