MA Chapter 13 Questions Process Costing – Work-in-Progress open tuition

This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.

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June 12, 2021 at 4:37 am #624863

tushargujral
Participant

sir in question 4 it says opening work in progress is 2000 and degree of completion is 60%

does this 60% means that 60% of work was already completed in the previous year and now the rest 40% is used now?

that’s why we have taken 40% of 2000 in the conversion cost

correct me if i am wrong

June 12, 2021 at 7:40 am #624895

John Moffat
Keymaster

What you have written is correct 🙂

June 15, 2021 at 4:31 am #625302

tushargujral
Participant

okay just wanted confirmation thank you sir for helping

June 15, 2021 at 8:22 am #625313

John Moffat
Keymaster

You are welcome 🙂
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