Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 (May 2021)- - Romagna plc manufactures a product that passes through two processes: mixing and packaging. All manufacturing costs are added uniformly in

image text in transcribed

Question 1 (May 2021)- - Romagna plc manufactures a product that passes through two processes: mixing and packaging. All manufacturing costs are added uniformly in the mixing department - Information for the mixing department for April is as follows: - Work in progress, April 14 Units (60% complete) Direct materials Direct labour Overhead 5,000 20.000 24,000 4,000 During April, 80,000 units were completed and transferred to packaging. * The following costs were incurred by the king department during the month:- +Direct materials Direct labour Overhead 180,000 200,000 59,200 I At April 30, 12,000 units that were 10% complete remained in the mixing department. Romagna pic use the weighted average method to allocate costs to products. Requirement a) Compute Romagna plc's equivalent units of production for April. 6 Marks b) Compute Romagna plc's total costs to account for in April. + 9 Marks c) Determine Romagna ple's total cost per equivalent unit of production, the cost of goods transferred to the packaging department, and the cost of the ending work in progress for the mixing department in April. 9 Marks d) Discuss the main differences between the FIFO and weighted average methods in process costing

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

The Whole School Audit Development Planning For Primary And Special Schools

Authors: Brian Drakeford

1st Edition

1853465011, 978-1853465017

More Books

Students also viewed these Accounting questions