Q4

This is a short-answer extended question. ALL WORKINGS MUST BE CLEARLY SHOWN FOR THIS QUESTION. (20 marks) production process. Conversion costs are allocated evenly throughout the production process. Gamma Ltd uses the weighted-average method of process costing. The following information is available for the month of August 2022 for the Assembly Department. The cost details for the month of August are as follows: Based on the information provided, compute the following for Gamma Ltd's Assembly Department, showing your workings and answers in the space below. a. Compute the equivalent units for direct materials and conversion costs for the month of August. (4 marks) b. Compute the direct materials cost and conversion cost per equivalent unit for the month of August. (4 marks) c. Compute the total cost of goods completed and transferred out during the month of August. (4 marks) d. Compute the total amount of direct materials and conversion costs assigned to the ending work-in-process inventory (EWIP) for the month of August. (4 marks) This is a short-answer extended question. ALL WORKINGS MUST BE CLEARLY SHOWN FOR THIS QUESTION. (20 marks) production process. Conversion costs are allocated evenly throughout the production process. Gamma Ltd uses the weighted-average method of process costing. The following information is available for the month of August 2022 for the Assembly Department. The cost details for the month of August are as follows: Based on the information provided, compute the following for Gamma Ltd's Assembly Department, showing your workings and answers in the space below. a. Compute the equivalent units for direct materials and conversion costs for the month of August. (4 marks) b. Compute the direct materials cost and conversion cost per equivalent unit for the month of August. (4 marks) c. Compute the total cost of goods completed and transferred out during the month of August. (4 marks) d. Compute the total amount of direct materials and conversion costs assigned to the ending work-in-process inventory (EWIP) for the month of August. (4 marks)