Question: Hello, sorry, I need an answer within 30 to 20 minutes, please Q1/ One company uses process system of accounting for production and information about
Q1/ One company uses process system of accounting for production and information about the first stage of production has become 1- beginning inventory of work in process (40) units (60% conversion costs) and ending inventory of work in process (100) (50% conversion costs) 2-The units that started the stage (210) units and units completed and converted (150) unit 3- materials are Added at the end of the production processes, conversion costs are added equally during the production processes 4-Cost of work in process for direct material was zero, conversion cost 84000 dinar and Costs added in current period direct material 2250000 dinar, conversion cost 316800 dinar Required :- 1- prepare of Equivalent units 2- calculate the cost per equivalent unit for each cost category; and assign costs to units completed and transferred and to units in ending work in process use Weighted average method & FIFO method
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