Question: please help me answer the questions below as soon as possible Caleb Ltd produces one product. The company inputs 3,000 units of material into the


Caleb Ltd produces one product. The company inputs 3,000 units of material into the process, valued at N$20/ unit Total conversion cost of the process amount to NS150,000, with 60% allocated to labour cost. The company expects to lose 6% of inputs from the process and sells all damaged units at N$25/unit Caleb produced 2,700 units of finished goods Calculate the value of profit/ Loss made from the sale of abnormal loss. The following information is available for a firm producing and selling a single Product: Budgeted costs (at normal activity) NS Variable production cost 312 000 Fixed production overhead 144 000 Variable selling and administration overhead 24 000 Fixed selling and administration overhead 96 000 The overhead absorption rates are based upon normal activity of 240 000 units per period. During the period just ended May 2021, the number of units produced were 260 000, and 230 000 units were sold at N$3 per unit. At the beginning of the period 40 000 units were inventory. These were valued at the budgeted costs shown above. Actual costs incurred were as per budget Required Compute the value of closing inventory under the absorption costing system In which of the following situation(s) would the profit figures calculated under both absorption costing and marginal costing be the same? 1. Production units equal units sold ii. No Inventory ill. Production units are greater than units sold iv. Production units are lower than units sold O a (i) only Ob(i) and (11) only Oc() and (ii) only Od None of all (ii) only
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