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The Massive Mining Co_equivalent unit_weighted average method

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solution


Question

Question;The Massive Mining Co;refines iron ore for export markets. The following data relates to the;company?s mine for the month of April;25,000;units of work in process existed at 1st April, the costs for which were;Direct;materials ?18,500 Conversion;?36,750;35,000;units commenced production during April. The costs incurred during the month;for refining were;Direct;material ?300,000 Conversion;?230,000;The;closing work in progress at 30th April was 15000 units. Materials were added at;the beginning of the refining process and conversion was 1/3rd complete at;month end.;a.;Calculate the cost per equivalent unit for the month of April using the;weighted average method of process costing.;b.;Calculate the value of work in progress and the value of completed stock;transferred to finished goods during the month

 

Paper#44616 | Written in 18-Jul-2015

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