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process costing

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › process costing

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by John Moffat.
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  • July 20, 2019 at 9:28 pm #524429
    aamir12
    Member
    • Topics: 18
    • Replies: 13
    • ☆

    A company which operates a process costing system had work in progress at the start of last month of 400 units (valued at $3,000), which were 40% complete in respect of all costs. Last month 1,500 units were completed and transferred to the finished goods warehouse. The cost per equivalent unit for output produced last month was $20. The company uses the FIFO method of cost allocation.
    What is the total cost of the 1,500 units transferred to the finished goods warehouse last month?

    kindly help me sir .

    finished goods 1500-400=1100*20=22000+ opening value 3000 +opening (400*0.60*20) = 29800 is it correct ?

    July 21, 2019 at 9:56 am #524453
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    It is correct (but why are you attempting questions for which you do not have an answer? You should be using a Revision Kit from one of the ACCA approved publishers)

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