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This is a management accounting question show all workings. Thanks The following information was provided for the month ending provided for the month ending 31/12/2017:
This is a management accounting question show all workings. Thanks
The following information was provided for the month ending provided for the month ending 31/12/2017: 204.200. Transfers from process 2: 180.000 units at a cost of Kshs. 394,20 be 76.506 rocess 3 costs: materials Kshs. 110,520 conversion costs Kshs. 70,00 ork-in-process at the beginning of the month: 20,000 units at a cost of 0,100 (based on FIFO pricing method). Units were 70% complete tor may and 40% complete for conversion costs. Froduct is inspected when it is complete. Normal losses are expected but during the month, 60 units were rejected and sold for Kshs. 1.50 per unit. Required: (15 marks (a) Prepare the Process 3 account for the month ended 31/12/2017. The following information was provided for the month ending provided for the month ending 31/12/2017: 204.200. Transfers from process 2: 180.000 units at a cost of Kshs. 394,20 be 76.506 rocess 3 costs: materials Kshs. 110,520 conversion costs Kshs. 70,00 ork-in-process at the beginning of the month: 20,000 units at a cost of 0,100 (based on FIFO pricing method). Units were 70% complete tor may and 40% complete for conversion costs. Froduct is inspected when it is complete. Normal losses are expected but during the month, 60 units were rejected and sold for Kshs. 1.50 per unit. Required: (15 marks (a) Prepare the Process 3 account for the month ended 31/12/2017Step by Step Solution
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