Question: I need a solution in an hour at most. You can skip explaining in detail because it is an exam Olga LLP manufactures a toothpaste.

I need a solution in an hour at most. You can skip explaining in detail because it is an exam

I need a solution in an hour at most. You can skip

Olga LLP manufactures a toothpaste. It takes several processes for product completion. The following notes are available: 1. Opening WIP 11 000 units Direct Materials 90% complete 3 920 Direct Labour and Overheads 65% complete 2 305 Costs incurred during the 2. 76 390 units period Direct Materials 56 029 Direct Labour and Overheads $ 45 928 3. Closing WIP 10 500 units Direct Materials 80% complete Direct Labour and Overheads 65% complete Required: 1. Calculate the value of the finished goods and closing WIP using weighted average method. (20 marks) 2. Prepare Process account (T-account) for the period. (10 marks)

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