Question
Severn Minto plc makes a single product by passing materials through a consecutive processes. All materials are introduced at the start of each process. All
Severn Minto plc makes a single product by passing materials through a consecutive processes.
All materials are introduced at the start of each process. All losses occur at the end of each process.
The following information is available for Month 6 of Year 9:
Input for month 9,700 kg
Materials total cost $90,000
Conversion Cost $26,000
Closing stock of work-in-progress 1,600 kg - 80% complete
Output transferred to Finished Goods - 7,800 kg
Normal losses 200 kg
REQUIRED
- Prepare the Equivalent Table, the Equivalent cost and the Evaluation table.
- Prepare the Process Account for the period based on the above information.
All workings must be calculated to 5 decimal places; ledger entries calculated to the nearest$
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