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ACCA F2 Process Costing – Work-in-Progress part a
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Hi sir can I ask what textbook are you using?
The lectures are using our free Course Notes (if you look just above the lecture, on the right hand side, it says this and gives the link).
Dear Sir,
Can I get to know the name of this lecturer?
Thank you.
Why do you want to know my name? :-))
Oh, so that’s you. After I watched the online lectures, I have to admit that I really love your voice. Just so you know. 😀
Well…..I don’t know what to say :-))
Thanks! 🙂
Hello Sir,
Can the cost per unit gotten from the cost and equivalent unit be also referred to cost per equivalent unit?
Yes 🙂
Hi,
Thanks for ur videos. I cant play videos. It is says that cross domine access denied
Lectures work OK now
Best things in life are indeed free!Thank you so much for a very fine lucture.God bless you.
Dear John,
I have one question about inventory. I hope you will find time to check it for me. CIosing WIP invent. 2000 units, 100% complited for material, 40% complited for labour. Equivalent £12 per unit. So, I have for material 2000unit (100%) + labour 800 unit complited = 2800 unit X £12=£33600 value for units complited WIP. Is that correct? Thank you in advance for your help. Regards
You need the equivalent cost per unit for both materials and for labour.
If is is an equivalent cost of $12 per unit for labour, the 33600 is the labour part of the value of the closing WIP. However more information is needed about the material cost to be able to calculate the full value of the WIP.
How $33,600 could be the labour cost in WIP since the completed material were 100% meanwhile the workmanship were only achieved at rate of 40%?
Is it the total cost for both raw material and workmanship is RM12 for each unit?
Sorry…..if the equivalent cost of labour is $12 per unit, then the labour element of the WIP should be valued at 2000 x 40% x 12 = $9600.
In addition there is the material cost and since this is 100% complete this would be 2000 x equiv mat cost per unit.
However this information is missing in what agnieszka typed.
Hello,
When the process a/c is balanced i.e. units & $ both, then why we need to bring in the concept of carried forward & brought forward.
Think about this…….suppose we are working on 1,000 units, but only 800 are finished.
What do you think happens to the other 200?
They are still there in the process and will be finished next month.
That is why we need to carry forward 200 at the end of this month and being forward 200 at the start of next month.
Your immediate clarification was highly appreciated. Thanks…
how do i download this video?
Videos can only be watched online. It is the only way that we can keep this website free of charge.
Hi,
Where can i find lecture video for make or buy decission?
There is no lecture on make or buy yet. You will have to look at it in the Course Notes.
could never understand better, thanks John, you are the best, my learning has become quite enjoyable
Good explanation, you are super OT! these other institutions of ours do not explain this properly, Well done!
this was really great …clear explanations
it doesnt play beyond 8 minutes
@ishtar, if it stops, press play again, it should pick up from where it left
Only finished units are needed to transfer out from the process a/c to the next process or warehouse. And The remaining will be there for next month. => CR is 9600.
Am I right lecturer?
@saroeunsang, Yes – you are correct. The WIP is carried forward to the next period as a balance on the Process account.
what is the double entry for WIP? Cr wip and debit what?
@Vanna Motilal, or dr wip and cr what?
We don’t debit or credit anything – we simply carry forward the balance.
Nice lecture.
awesome !!
i like it..
i couldnt open non of lectures on my Microsoft windows Laptop.
but it worked well with apple.
i will check on support as well
dont play why?
I was not successful in opening the lecture…any advice?
visit support page https://opentuition.com/support/