Question: Intermediate (14 marks; 25 minutes) SOURCE: ADAPTED FROM ACCA CERTIFIED ACCOUNTING TECHNICIAN EXAM P4 600 tons of raw materials, costing R430 032, were input to

Intermediate (14 marks; 25 minutes)

SOURCE: ADAPTED FROM ACCA CERTIFIED ACCOUNTING TECHNICIAN EXAM P4 600 tons of raw materials, costing R430 032, were input to a process during a period. Conversion costs totalled R119 328. Losses, in the form of reject product, are normally 12% of input. Reject product is sold for R260,00 per ton.

521 tons of nished product passed inspection (which occurred at 100% completion) during the period. The remaining output was sold as reject product. There was no work-in-progress either at the beginning or the end of the period.

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