A product is manufactured by passing materials through two processes. Production costs for 2021 January are...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A product is manufactured by passing materials through two processes. Production costs for 2021 January are as follows: Direct materials Direct labour Overheads Normal losses: There is no beginning or ending work in progress inventory. Scrapped values: Process A Process B A. B. Process A Process B Output for 2021 January was: Process A Process B 4 000 kg @ $3.00 per kg $2 000 100% of direct labour cost 10% 5% Process A $1.75 per kg $2.50 per kg 3 500 kg 5 050 kg Prepare Process A and Process B accounts. Prepare abnormal loss/gain accounts. Process B 1 500 kg @ $2.50 per kg $1.500 125% of direct labour cost A product is manufactured by passing materials through two processes. Production costs for 2021 January are as follows: Direct materials Direct labour Overheads Normal losses: There is no beginning or ending work in progress inventory. Scrapped values: Process A Process B A. B. Process A Process B Output for 2021 January was: Process A Process B 4 000 kg @ $3.00 per kg $2 000 100% of direct labour cost 10% 5% Process A $1.75 per kg $2.50 per kg 3 500 kg 5 050 kg Prepare Process A and Process B accounts. Prepare abnormal loss/gain accounts. Process B 1 500 kg @ $2.50 per kg $1.500 125% of direct labour cost
Expert Answer:
Answer rating: 100% (QA)
Particulars Direct Material Direct Labour Overhead Process A AC uni... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A product is manufactured by passing through three processes: A, B and C. In process C a by- product is also produced which is then transferred to process D where it is completed. For the first week...
-
A product is manufactured to meet an upper specification limit of 150.0 and a lower specification limit of 100.0. The product is inspected in subgroups of four and charts are maintained to monitor...
-
A steel product is manufactured by starting with raw material ( carbon steel wire) and then processing it sequentially through five operations using machines A to E, respectively ( see table below)....
-
Your friend Jin is working at Company AUS Toys, an Australian manufacturing company, selling toys to Company Toy Shop. Company Toy Shop also buys toys from Company CNY Toys in China which has fixed...
-
When crossing the Golden Gate Bridge, traveling into San Francisco, all drivers must pay a toll. Suppose the amount of time (in minutes) drivers wait in line to pay the toll follows an exponential...
-
Revtek, Inc., has an equity cost of capital of 12.6% and a debt cost of capital of 6.3%. Revtek maintains a constant debt-equity ratio of 0.5, and its tax rate is 34%. a. What is Revteks WACC given...
-
In December 2008, Jason Garcia signed a motor vehicle sales contract with Mac Haik Dodge Chrysler Jeep, a dealer. In the contract, Garcia agreed to purchase a 2009 Dodge Ram 1500. The contract...
-
(Two Temporary Differences, One Rate, 3 Years) Gordon Company has two temporary differences between its income tax expense and income taxes payable. The information is shown below. The income tax...
-
A clinical resear would like to know if his diet program is effective in lowering patients blood pressure. The following patient. Blood pressure before diet blood pressure after diet 1. 15. 12 2. 15....
-
The Electret microphone AUM-5047L we will use can be modeled as a Norton current source, with DC current IMIC as shown below. We need to set up its DC operating point correctly, by an appropriate...
-
Two Transformers each of 90kVA are connected in parallel. Transformer A has an impedance of (1.5 + j6) ohms and transformer B has an impedance of (1.2 +j10) ohms respectively. Calculate the load...
-
Planet Motors manufactures general and special purpose industrial motors. Planet's management is worried about increasing competition in its industry as a global industrial motor manufacturer has...
-
A proton collides elastically with another proton that is initially at rest. The incoming proton has an initial speed of 2.4x105 m/s and makes a glancing collision with the second proton. After the...
-
Using the digits 0, 1, 2, 8, 9, determine how many 6-digit numbers can be constructed according to the following criteria. 1944 The number must be odd and greater than 500,000, digits may be...
-
You are driving a 2500.0-kg car at a constant speed of 14.0 m/s along an icy, but straight, level road. As you approach an intersection, the traffic light turns red. You slam on the brakes. Your...
-
Samuel recently ran a marathon. It took him 4.9 hours to run the 26.6 miles required to finish a marathon. Find his average speed in miles per hour. Then convert his speed to feet per second. (Hint:...
-
DO PESTEL ANALYSIS AND APPLY FOR Business this assessment is Worlducation based on: Program description (including projects that form part of the program): Program objectives: Program: A Better Place...
-
In Exercises find dy/dx by implicit differentiation. xy - y = x
-
A company using process costing manufactures a single product which passes through two processes, the output of process 1 becoming the input to process 2. Normal losses and abnormal losses are...
-
The following data have been collected for the month of April by a company which operates a standard absorption costing system: Actual production of product EM 600 units Actual costs incurred: ()...
-
You are employed as the assistant accountant in your company and you are currently working on an appraisal of a project to purchase a new machine. The machine will cost 55 000 and will have a useful...
-
Consider a strictly risk averse agent endowed with initial wealth \(w_{0}\) and with a strictly increasing and twice differentiable utility function. Let \(r_{f}\) and \(\tilde{r}\) denote the return...
-
Consider a quadratic utility function \(u(x)=x-\frac{b}{2} x^{2}\), an initial wealth \(w_{0}=100\), a risk free rate \(r_{f}=1.1\) and a risky asset with expected return...
-
Consider the optimal portfolio choice problem in the presence of \(N\) risky assets with returns \(\left(\tilde{r}_{1}, \ldots, \tilde{r}_{N} ight)\) and of a risk free asset with return \(r_{f}>0\)....
Study smarter with the SolutionInn App