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stuck in this please solve this 5. Phomolo Innovative Centre (PTY) ltd carries a continuous production process for one of its products. In May, the
stuck in this please solve this
5. Phomolo Innovative Centre (PTY) ltd carries a continuous production process for one of its products. In May, the following costs were incurred for that process; Materials 3,400 kg at $1.65 per kg Labour - 1,500 hours at $2.20 per hour Overheads are charged at 100% of Labour costs During the month, 3,000 kgs of the product were completed and taken to Finished Inventory. Incomplete work at the end of May was regarded as 100% complete regarding Materials, as are introduced from the start, and 75% complete as regard to Conversion costs. There was no opening work in Progress and No Losses encountered for this process. Required; a. Calculate cost of completed output and the value of the work in progress (15 marks) b. Prepare Process account for May ProductionStep by Step Solution
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