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June 28, 2015 at 4:02 am
About the question 4, refer to the wrong answer A: $3, the answer in the course note says “if you selected option A you aportioned costs on the basis of units sold”. I don’t understand how can we get that incorrect answer? I guess that we would incorrectly sum opening stock, direct material, conversion costs and closing stock together, then just simply divide the result ($240,000) by the total production units (80,000 u). Is that right?
Sorry for annoying you with this useless question. I hope to hear from you soon.
John Moffat says
June 28, 2015 at 10:17 am
What you have written is correct
June 29, 2015 at 5:30 pm
May 2, 2015 at 9:56 pm
chapter 13 question 4 how did you workout the 75000, i got no clue can someone help me please
May 3, 2015 at 10:40 am
I assume you mean the 75,000 joint cost apportioned to product X and product Y?
The joint cost is 200,000 in total. It is apportioned on the basis of the sales value of the production. The total sales value of the production is 320,000 of which X is 120,000 (the workings for these figures are printed in the answer).
So if X has sales value of 120,000 out of a total of 320,000, then the joint cost is apportioned on that basis i.e. 120,000/320,000 x 200,000 = 75,000
March 24, 2015 at 9:03 pm
hey, can we be questioned from chapter 14? thanks
February 13, 2015 at 5:07 am
Is here chapter no 14
February 13, 2015 at 9:08 am
There is no lecture on Chapter 14 because you cannot be asked any calculations on alternative cost accounting.
All you need is what is written in the notes – you can read that yourself!
February 17, 2015 at 7:31 pm
Thank u sir
November 30, 2014 at 6:15 am
Good morning Sir,
Can you please help me with an answer to this question about Labour turnover rate: 3200 workers at the beginning of the year, during the year 1720 left, 2000 were at the end. After my calculation I got 1720[(3200+2000)/2 ]*100=66% but the answer given by the test is 20%?!
Thank you in advance,
August 26, 2014 at 9:24 am
In a company’s processes,product X is manufacturing using raw materials P and T which are mixed in the proportions 1:2. Material purchase prices are: P £5.00 per kilo,T £1.60 per kilo. Normal weight loss of 5%is expected during the process. In the period just ended 9,130 kilos of product X were manufactured from 9,660 kilos of raw materials. Conversion costs in the period were £23,796. There was no work in process at the beginning or the end of the period. Prepare the product X process account for the period. Thank you
August 26, 2014 at 10:14 am
You cannot be asked to prepare a t-account in the exam, and I cannot write one up here.
However I will calculate the relevant figures for you (which obviously you can be asked).
I assume that you have watched my free lectures on process costing.
9660kg were input. Since P and T are in the ratio 1:2, P must be 1/3 of the input and T must be 2/3.
So the cost of the materials is for P, 1/3 x 9660 x $5 = $16100; and for T is 2/3 x 9660 x $1.60 = $10,304. So total materials cost is $26,404.
In addition there are conversion costs of $23,796, which bring the total cost to $50,200.
The cost is spread over the expected output, which is 95% x 9,660 = 9177 kg.
(Questions like yours are best asked in the F2 Ask the ACCA Tutor Forum. This space is for comments on the lecture.)
So the cost per kg is 50,200/9,177 = $5.47.
The output is therefore valued at 9,130 x $5.47 = $49,941.
There is an abnormal loss of 9,177 – 9,130 = 47kg. So this is valued at 47 x $5.47 = $257.
June 2, 2014 at 11:56 am
I have a question on page 74 question 4, when we calculate the production in one period should be less opening stock and plus closing stock, right? I am confused in this question solution, why you calculate the joint cost, pulsing open stock $40000 and lessing closing stock $2000??
Thank you very much for your explanation in advance.
June 2, 2014 at 12:18 pm
The cost of production is always opening inventory, plus purchases, less closing inventory.
Here, instead of purchases we have the cost of materials and conversion costs.
September 26, 2013 at 9:50 pm
please can anyone tell me how we got 0.6666 as the cost per unit of x in the test on joint product in question 1? thanks
October 16, 2013 at 4:55 pm
When P and Q left the process, the cost per unit for both of them is the joint cost (350,000) divided by the total production (750,000 units). This gives a cost per unit of 0.46666.
Q the has further work done (to turn it into X) at a cost of $66,000 for production of 330,000 units, which means there is an extra cost of 66000/330000 = 0.2 per unit.
So…the total cost per unit for X is 0.46666 + 0.2 = 0.66666
November 27, 2012 at 11:17 am
Hi, is there a typo on page 78 question 4? Output and sales for product “Z” should be for product “Y”? I think I know the answer, but thought I should check.
October 16, 2013 at 5:18 pm
You are correct.
Thanks – I will have it corrected.
October 17, 2012 at 1:46 pm
but then 40% was used instead of 60% for opening work in process still question 9
October 16, 2013 at 5:19 pm
40% in the answer is correct. (60% work was done last year on the opening work in progress – only 40% work is therefore done this year)
October 8, 2012 at 7:34 pm
very well explained
October 3, 2012 at 6:03 pm
Very good explanation so simple so interesting.Thank you Opentuition
July 27, 2012 at 8:58 am
Why can’t I download the Open tuition lectures anymore?
July 27, 2012 at 10:46 am
Lectures are online only! Not downloadable
That’s the only way this site is free
October 16, 2013 at 5:23 am
I would love it most if lectures are made downloadable to help we those who do not have constant or stable of reliable internet service. All the same OP u guys are generous
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