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Required: (a) Determine the missing amounts in each of the divisions shown above. (b) calculate the amounts to be charged to work in process. finished
Required:
(a) Determine the missing amounts in each of the divisions shown above.
(b) calculate the amounts to be charged to work in process. finished goods inventory and cost of goods sold for the Fertiliser Division at the end of 30 June 2022 if proration method is used.
(c) Prepare the necessary journal entries for (b).
(this are all the information given)
The following cost data for the year ending 30 June 2022 relate to Aggro-tech Ltd. The company uses normal costing and manufacturing overhead is applied at the rate of 200% of direct labour cost. Over or under-applied manufacturing overhead is closed on an annual basis to the cost of goods sold and this has been included in the above data. The following cost data for the year ending 30 June 2022 relate to Aggro-tech Ltd. The company uses normal costing and manufacturing overhead is applied at the rate of 200% of direct labour cost. Over or under-applied manufacturing overhead is closed on an annual basis to the cost of goods sold and this has been included in the above dataStep by Step Solution
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