c) The following data relates to Tramming process of the mining operations for the accounting period...
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c) The following data relates to Tramming process of the mining operations for the accounting period 2. Opening balances were 800 units of partly completed units as follow: Completion % 100 Cost K 000 Materials from Crushing Materials introduced 8.200 5,600 3,200 2,400 55 Labour 60 Overheads 45 During the period 4,300 units were transferred from Crushing at a value of K46, 500,000 K, 000 24,000 19,500 18,200 and other costs were as follows; Materials Labour Overheads Work In Progress at the end of period 2 was 600 units and the degree of completion was as follows: Input materials 100% Introduced materials 50% Labour 45% Overheads 40% 4,500 units were deemed finished and transferred to finished goods account. Prepare a process account for Tramming process using FIFO method. (15 marks) Total 25 marks c) The following data relates to Tramming process of the mining operations for the accounting period 2. Opening balances were 800 units of partly completed units as follow: Completion % 100 Cost K 000 Materials from Crushing Materials introduced 8.200 5,600 3,200 2,400 55 Labour 60 Overheads 45 During the period 4,300 units were transferred from Crushing at a value of K46, 500,000 K, 000 24,000 19,500 18,200 and other costs were as follows; Materials Labour Overheads Work In Progress at the end of period 2 was 600 units and the degree of completion was as follows: Input materials 100% Introduced materials 50% Labour 45% Overheads 40% 4,500 units were deemed finished and transferred to finished goods account. Prepare a process account for Tramming process using FIFO method. (15 marks) Total 25 marks
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College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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