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I think this question is incomplete.
Ouestion :-Job c299 has incurred the following costs during a period.
opening work in progress $ 4300
Direct materials $ 3100
Direct labour $ 5600Overheads are recovered using an overhead absorption rate of 250% of prime cost . What Should be recordednas WIP for job c229 as at the end of the period ?
a) $30450
b) $34750
c) $ 26050
d) $ 45500Why are you attempting questions for which you do not have answer? You should be using a Revision Kit from one of the ACCA approved publishers – they have answers and explanations!
Why do you think that the question is incomplete?
The total prime cost = 4300 + 3100 + 5600 = 13,000
Therefore the total closing WIP = 13000 + (250% x 13000)
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