vodafone AU 1:52 pm 95% A learn-ap-southeast-2-prod-fleet01-xy C Question 1 - Process Costing Systems [20 Marks! Recently, Sunshine Coast Pty Ltd expanded its market by becoming an original equipment supplier to Robert Pty Lad. Sunshine Coast produces factory upgraded speakers specifically for Robert Pty Lod. The speaker cabinets and associated components are outsourced with assembly remaining in-house Sunshine Coast assemble the product by placing the speakers and other components in cabinets that define an audio package upgrade, Speaker cabinets and associated components are added at the beginning of the assembly process. Assume that Sunshine Coast uses the FIFO method to cost out the audio package. The following are cost and production data for the assembly process for August Production: Units in process I August, 60% complete Units completed and transferred out Units in process, 31 August, 20% complete 1 500 000 300000 $ 200 000 5 400 000 WIP, 1 August Cabinets Components Conversion costs Cests added during August Cabinets Components Conversion costs $ 2 400 000 25 200 000 8640000 Required 1. Prepare a physical flow analysis for the assembly department for the month of August. 14 Marks! B. Calculate equivalent units of production for the assembly department for the month of August 14 Marks C. Calculate unit cost for the assembly department for the month of August 14 Marks! D. Calculate the cost of units transferred out and the cost of ending WIP inventory 14 Marks E. Prepare a cost reconciliation for the assembly department for the month of August vodafone AU 1:52 pm 95% A learn-ap-southeast-2-prod-fleet01-xy C Question 1 - Process Costing Systems [20 Marks! Recently, Sunshine Coast Pty Ltd expanded its market by becoming an original equipment supplier to Robert Pty Lad. Sunshine Coast produces factory upgraded speakers specifically for Robert Pty Lod. The speaker cabinets and associated components are outsourced with assembly remaining in-house Sunshine Coast assemble the product by placing the speakers and other components in cabinets that define an audio package upgrade, Speaker cabinets and associated components are added at the beginning of the assembly process. Assume that Sunshine Coast uses the FIFO method to cost out the audio package. The following are cost and production data for the assembly process for August Production: Units in process I August, 60% complete Units completed and transferred out Units in process, 31 August, 20% complete 1 500 000 300000 $ 200 000 5 400 000 WIP, 1 August Cabinets Components Conversion costs Cests added during August Cabinets Components Conversion costs $ 2 400 000 25 200 000 8640000 Required 1. Prepare a physical flow analysis for the assembly department for the month of August. 14 Marks! B. Calculate equivalent units of production for the assembly department for the month of August 14 Marks C. Calculate unit cost for the assembly department for the month of August 14 Marks! D. Calculate the cost of units transferred out and the cost of ending WIP inventory 14 Marks E. Prepare a cost reconciliation for the assembly department for the month of August
