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December 21, 2017 at 9:37 pm
this lecture was of great help. That you very much!
John Moffat says
December 22, 2017 at 8:09 am
Thank you for your comment 🙂
June 2, 2017 at 8:06 am
Sir John Moffat!! am waiting for you response.
June 1, 2017 at 9:11 am
I don’t understand how $9000 from 60% of 15000 units is used for overheads when its opening inventory. Are we not supposed to use finished goods inventory to find the cost per unit but you used opening stock to calculate cost per unit instead of 40%. please explain.
April 19, 2017 at 1:18 am
what is the solution in which the normal loss 10% with 50% conversion cost
April 19, 2017 at 6:16 am
I don’t know what you are asking!
April 19, 2017 at 5:27 pm
in a particular process 2000 units the normal losses expected 10% out of the loss only 50% completed in conversion cost then how to account that
April 15, 2017 at 8:43 am
what’s the solution for having two or more process account
April 15, 2017 at 10:06 am
Each process account is dealt with in the same way. The output from one process of ‘finished’ items is the input for the next process.
April 15, 2017 at 2:36 pm
is there only one procedure to calculate final process and loss account
April 15, 2017 at 3:36 pm
You would only be asked to deal with one of the processes in the exam, but the procedure is the same for all processes.
March 11, 2017 at 10:56 pm
Ignore the duplicated question 🙂
March 11, 2017 at 10:51 pm
good day, Please reply.
What is the purpose of costing in retrospect? I see that we are given the money already spent for the month as well as the amount of items already produced and sold. which means that its at the end of the month, after everything has already gone down, that we are trying to find a unit cost.
Is the purpose of this a comparative one? i.e comparing the estimated unit cost arrived at at the beginning of a month vs the actual unit cost that the goods should have been sold at?
March 12, 2017 at 7:53 am
The purpose of costing is to know the cost per unit (so that, for example, we can decide on a selling price in order to make a profit). It is also need in order to value closing inventories and closing work-in-progress. It has nothing to do with comparatives.
Have you also watched all of the earlier lectures?
December 24, 2016 at 8:24 am
Sir, thank you for the awesome lectures. I had a doubt in the first method of calculating the finished units this month. How do you get the 40000 units figure? Thanks
December 24, 2016 at 8:58 am
Ugh, nevermind. Got this too.
December 24, 2016 at 3:13 pm
am pleased that you got it (and thank you for the comment) 🙂
July 20, 2016 at 6:35 pm
You are absolutely brilliant. Thank you so much for your lectures. Make things so much easier to understand.
July 20, 2016 at 6:55 pm
Thank you very much for your comment 🙂
January 9, 2016 at 5:58 pm
thank you for making costing understandable! you are the best lecturer I have ever had in management accounting. God bless you!
January 10, 2016 at 8:57 am
Thank you for the comment 🙂
June 28, 2016 at 6:52 pm
where did we get $0.83?
June 29, 2016 at 5:56 am
If you watch at around 20:00 you will see how we get it! We divide $24,900 by 30,000!
June 29, 2016 at 2:17 pm
oh ok Sir, ignore my previous question on how you got $0.83%
December 25, 2015 at 4:53 am
thanks alotttttt!!!!!! You are the best MA lecture I have seen!!! God bless you ! 🙂
December 25, 2015 at 8:58 am
Thank you 🙂
December 7, 2015 at 7:47 am
I am a Final Year student from Hong Kong who is majoring in Accountancy (B.B.A.), Your explanations are absolutely fantastic and very useful for my revision in both college exams and ACCA Professional Level Exams. Thanks a lot !
December 7, 2015 at 8:23 am
October 14, 2015 at 5:43 pm
The Lecutre recorded keeps breaking and some key areas being discussed are not showing. There’s also a green screen that appears now and then. I have tried to access it in different systems and the problem is still the same.
Is it possible to make another link available?
October 14, 2015 at 8:05 pm
The lecture is working fine. You should go to the support page – the link is above.
October 8, 2015 at 9:50 pm
Working through the costing process has been extremely helpful.
Thank you very much
October 8, 2015 at 10:08 pm
You are welcome – I am pleased that the lectures are helpful.
August 4, 2015 at 8:16 pm
Hello. Closing WIP is always valued at half?
August 4, 2015 at 8:41 pm
Of course not! It is valued at whatever % of work has been completed. You really should watch all of the lectures on process costing.
August 4, 2015 at 8:51 pm
Okay. Thank you
February 25, 2015 at 9:38 am
where did the $0.83 come from when you were valuing closing WIP? i thought the cost per unit for materials was $1.38
Also, i don’t understand why you computed the value of materials only when finding the cost of the 25000 units made this month.How come conversion costs aren’t calculated?
February 25, 2015 at 10:21 am
The cost per unit for materials is not $1.38 at all, and conversion costs were calculated when valuing the completed units!!!
Because of the different stages of completion we have to calculate the cost per unit for materials and the cost per unit for conversion costs (labour + overheads) separately, and I go through the workings of both of these in the lecture. Materials is $0.83 per equivalent unit, and conversion costs are $0.55 per equivalent unit. The total of the two ($1.38) is the full cost this period of a finished unit.
Are you sure you watched the whole lecture?
I do suggest that you watch it again carefully. Maybe it will help you if you have the answer at the back of the lecture notes in from of you while you watch it.
November 23, 2014 at 1:53 pm
Sir the way you explain is superb(Y) 😀 so clear.
November 23, 2014 at 1:58 pm
Thank you very much 🙂
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