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company operate process with no losses using weighted average method
Process Account
$
Opening work-in-progress
55,000 ( 7,000 units: 66% complete )
Finished output
$ 335,800
(14,600 units)
Input
380,160
Closing work (8,000 units) $ 99360
What was the degree of completion of the 8,000 units in the closing work-in-progress?
54%
40%
46%
60%
I calculated it as 99360/8000 & 335800/14600 so 12.42/23 = 54% is it correct
You must have an answer in the same book in which you found the question, so surely you know whether or not your answer is correct? 🙂
Yes, it. is correct.
However there is no point at all in attempting questions for which you do not have an answer. You should be using a Revision Kit from one of the ACCA Approved Publishers – they have answers and workings.
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