Question: Study the information provided below and prepare the process Cost Report for Process 2 using the weighted average method. The report must include the following:

Study the information provided below and prepare the process Cost Report

for Process 2 using the weighted average method. The report must include

the following: (20 Marks) 3.1 Quantity statement (6 marks) 3.2 Cost statement

(8 marks) 3.3 Cost allocation statement. (6 marks) * INFORMATION llembe Ltd

Study the information provided below and prepare the process Cost Report for Process 2 using the weighted average method. The report must include the following: (20 Marks) 3.1 Quantity statement (6 marks) 3.2 Cost statement (8 marks) 3.3 Cost allocation statement. (6 marks) * INFORMATION llembe Ltd uses two processes to manufacture desks. The following details are applicable to Process 2 for May 2021: Production details Units Units of incomplete work (opening) (100% complete i.r.o. materials, 40% complete ir.o. conversion costs) 150 000 Units received from the previous process 600 000 750 000 Units completed and transferred (450 000) Units of incomplete work (closing): Units of incomplete work (closing) (100% complete ino. materials, 70% complete i.r.o. conversion costs) 300 000 Details in connection with costs. R Incomplete work (opening): 2 400 000 Costs of previous process 1 890 000 Direct materials 330 000 Conversion costs 180 000 5 160 000 Costs incurred during May 2021 Costs incurred during May 2021: 5 160 000 Transferred from previous process 3 390 000 Direct materials 630 000 Conversion costs 1 140 000 7 560 000

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