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8a17 from BPP
I get lost with this question
The only thing I can do is calculating total net cost output ( 144.000)But I don’t understand why they multiply 88%
And why they take 16.30- 5 ?
Thanks Mr JohnExcuse me ,
For FIFO , if the question show” opening inventory 500 units , degree of completion – 60% )
This 60% is the completion for conversion cost , material or both of them ?
Thanks , Mr.John
I cannot answer your first question until later in the week, because I am away from home and do not have the Revision Kit with me.
With regard to your second question, we always assume material is 100% complete (unless specifically told otherwise) and it is therefore only the conversion costs that the % applies to.
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