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Please ask/solve questions or post useful notes here.
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Accounting Paper 4
- Thread starter Evil Philanthropist
- Start date
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- 46
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- 51
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- 28
Any guess topics for tommorow paper??.
- Messages
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- Points
- 18
Hello Everyone! I've a question related to process costing.
In November 2007 paper 42/ Q.3, they have asked us to prepare Process 1 and Process 2 accounts.The actual output per process is given as 48600 and 47000 units respectively..However in Process 1,since the cost of materials is given as $300000, i've divided it by the 4*1.5 that is the cost of material per unit which gives me the units as 50000. In process 2, they have given the cost of raw materials as $192800 which by dividing by the cost of rawmaterial of $4 gives us 48200 units.Hence in the marking scheme I've checked that they have taken 50000 units for process 1 and 47000 units for process 2. This is confusing. They should have taken eiither both of the values given in the question or both of the values that has been calculated. Any Help will be appreciated.
JAZAKALLAH!
In November 2007 paper 42/ Q.3, they have asked us to prepare Process 1 and Process 2 accounts.The actual output per process is given as 48600 and 47000 units respectively..However in Process 1,since the cost of materials is given as $300000, i've divided it by the 4*1.5 that is the cost of material per unit which gives me the units as 50000. In process 2, they have given the cost of raw materials as $192800 which by dividing by the cost of rawmaterial of $4 gives us 48200 units.Hence in the marking scheme I've checked that they have taken 50000 units for process 1 and 47000 units for process 2. This is confusing. They should have taken eiither both of the values given in the question or both of the values that has been calculated. Any Help will be appreciated.
JAZAKALLAH!
- Messages
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- 718
1600 were scrapped in process 2Hello Everyone! I've a question related to process costing.
In November 2007 paper 42/ Q.3, they have asked us to prepare Process 1 and Process 2 accounts.The actual output per process is given as 48600 and 47000 units respectively..However in Process 1,since the cost of materials is given as $300000, i've divided it by the 4*1.5 that is the cost of material per unit which gives me the units as 50000. In process 2, they have given the cost of raw materials as $192800 which by dividing by the cost of rawmaterial of $4 gives us 48200 units.Hence in the marking scheme I've checked that they have taken 50000 units for process 1 and 47000 units for process 2. This is confusing. They should have taken eiither both of the values given in the question or both of the values that has been calculated. Any Help will be appreciated.
JAZAKALLAH!