Hm, operates a process costing system. 1000 units of a product remained incomplete in a process at the end of period . The closing work in progress 70% complete in respect of conversation costs which were 3 $ per equivalent unit in the period.
What was the amount of conversation costs included in the valuation of the closing WIP?
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MAConversion costs
????
Maybe it's a stupid question.
The answer is 2100$ ?
10y ago#3In future, if you wish for me to answer then you must ask in the Ask the Tutor Forum - this forum is for students to help each other.
If they were 70% complete, then the equivalent units are 70% x 1,000 = 700.
If the conversion cost is $3 per equivalent unit, then the total conversion costs are 700 x $3 = $2,100.
I really do suggest that you watch our free lectures - they are a complete course for Paper F2 and cover everything needed to pass the exam well.
Thank you very much mr. John!
I don't know why but it was automaticly posted in forum )
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