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A firm makes special assemblies to customers` orders and uses job costing.
the data for a period are:opening WIP Job No. Job No. Job No.
AA10 BB15 CC20
$ $ $opening WIP 26,800 42,790 0
Material added in the period 17,275 0 18,500
Labour for period 14,500 3,500 24,600the budgeted overheads for period were $126,000
What was the approximation value of closing WIP at the end of the period?
is it logical to assume that Job No. BB15 is completed because material was not added in the period if the question did not specify that the job No. BB15 completedhave u found out the answer?i have tried but could not get the way of solving .let me know the working.
Ibrahim: No – you cannot assume that BB15 is completed (unless the question says so). It may be that although all the material is there it still needs more work doing on it to get it all finished.
I m facing problem doing this.all the time I feel confused with this type of question .can I know the working and some suggestion for what can I do for this type of question.i have watched ur lecture and understood but when need to solve question I don’t know but I cant figure out what to do. can u help me sir?
thank u.
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