Well Done Sdn. Bhd. makes a product that has to pass through two manufacturing processes, I and II. All the materials is input at the start of Process I. No losses occur in Process I but there is a normal loss in Process II equals to 7% of the input into that process. Losses have no realisable value. Process I is operated only in the first part of every month followed by Process II in the second part of the month. All completed production from Process I is transferred into Process II in the same month. There is no Work In Process (WIP) in Process II. Information for last November for each process is as follows: Process I Opening WIP Input into the process 200 units (40% complete for conversion costs) valued in total at RM16,500 Conversion costs incurred RM93,500 Closing WIP RM28,500 RM25,500 OC. RM22,500 O d. RM31,500 O a. RM133,000 Process II Transfer from Process I Conversion costs incurred Completed units b. 1,900 units with a material cost of 50% complete for conversion costs Value of closing WIP in Process I is 1,800 units RM78,450 1,660 units

Well Done Sdn. Bhd. makes a product that has to pass through two manufacturing processes, I and II. All the materials is input at the start of Process I. No losses occur in Process I but there is a normal loss in Process II equals to 7% of the input into that process. Losses have no realisable value. Process I is operated only in the first part of every month followed by Process II in the second part of the month. All completed production from Process I is transferred into Process II in the same month. There is no Work In Process (WIP) in Process II. Information for last November for each process is as follows: Process I Opening WIP Input into the process 200 units (40% complete for conversion costs) valued in total at RM16,500 Conversion costs incurred RM93,500 Closing WIP RM28,500 RM25,500 OC. RM22,500 O d. RM31,500 O a. RM133,000 Process II Transfer from Process I Conversion costs incurred Completed units b. 1,900 units with a material cost of 50% complete for conversion costs Value of closing WIP in Process I is 1,800 units RM78,450 1,660 units

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Description: Please do not give solution in image format thanku Well Done Sdn. Bhd. makes a product that has to pass through twomanufacturing processes, I and II. All the materials is input at the start ofProcess I. No losses occur in Process I but there is a nor

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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