unit completed is 14000 not 20000

1. Assume a product requires three processes for its manufacture, 1, 2. The following data relates to Process 1 forth conversion costs are incurred uniformly. The assembly division uses the weighted average method of process costing. Units: WIP January 1 10,000, 50% complete Units started 10,000 Units completed 20,000 WIP January 31 is two-thirds complete Costs: Opening WIP - Total $120,000 (Material M $50,000; Direct Labour $30,000; Overhead $40,000) Current Period Costs, Total $143,000 Material M added at the beginning) $35,000 Conversion costs: DL $60,000 OH $48,000 Required: (1) Compute equivalent units for materials and conversion costs. (2x3=6marks) (2)Summarize total process costs for the Jan, and compute cost per equivalent unit ((2x3=6marks) (3)Assign total costs to units completed and to units in ending work in process. (2x3 marks - marks) (4) Show the five steps process costing in schedule(5marks). ulators and operates at capacity. FbC AaBbCcDc AaBbCcD AaBbCcDc AaBbCcDc AaBbCcDc AABBCCD AABBCCI EX #t Result IV. problem solving (23+22-45marks) Reviewer 1.Assume a product requires three processes for its manufacture, 1, 2. The following data relates to Process 1 for the month of January. A raw material, Material M, is added at the beginning of Process and conversion costs are incurred uniformly. The assembly division uses the weighted average method of process costing. Units: WIP January 1 10,000, 50% complete Units started 10,000 I Units completed 14,000 WIP January 31 is two-thirds complete $120,000 Costs: Opening WIP - Total (Material M $50,000; 2000