Question
In: Accounting
Question 2 (20 marks) In a given period the production data and costs for a process...
Question 2
In a given period the production data and costs for a process
were:
Production: 2100 units fully complete.
700 units partly complete.
The degree of completion of the partly complete units was:
Material 80% complete
Labour 60% complete
Overheads 50% complete
The costs for the period were:
Material P24 800
Labour P16 750
Overheads P36 200
Required:
(a) Calculate the total equivalent production units
(b) Calculate the cost per complete unit
(c) Determine the value of W-I-P
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Chapter 20 This module focuses on measuring costs in process production companies. We explain process production,...
Chapter 20
This module focuses on measuring costs in process production
companies. We explain process production, describe how to assign
costs to processes, and compute and analyze cost per equivalent
unit.
Pick two topics below and discuss. Use proper grammar,
please.
What is meant by equivalent units of production, and why are
they important when a process costing system is used?
What are the four steps in accounting for production activity in
a period?
Job order costing and process costing...
Question 4 (5 Marks): A simplified process for the production of SO3 to be used in...
Question 4 : A simplified process for the production of
SO3 to be used in the manufacture of sulfuric acid is illustrated
in Figure 1. Sulfur is burned with 120% excess air in the burner,
but for the reaction S + O2 —> SO2, only 80% conversion of the S
to SO2 is achieved in the burner. In the converter, the conversion
of SO2 to SO3 is 90% complete. Calculate the kilograms of air
required per 100 kg of sulphur...
QUESTION 2 (20 Marks) REQUIRED Use the trial balance, adjustments and additional information given below to...
QUESTION 2
REQUIRED
Use the trial balance, adjustments and additional information given
below to prepare the Statement
of Comprehensive Income of Groutville Traders for the year ended 28
February 2019.
GROUTVILLE TRADERS PRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY
2019
Debit (R) Credit (R) Balance sheet accounts section Capital 289 000
Drawings 89 000 Vehicles at cost 370 000 Equipment at cost 280 000
Accumulated depreciation on vehicles 160 000 Accumulated
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Question 2 (20 marks) question 2.1 Give an example of a situation when an economy is...
Question 2
question 2.1
Give an example of a situation when an economy is in recession
according to both definitions of recession and give another example
of a situation when an economy may be in recession according to one
of the definitions but not the other.
You answer.
question 2.2
Consider two identical countries. The only difference between them
is that in country A the marginal propensity to consume (out of
disposable income) MPC=0.4 and in country B MPC=0.7. The...
Follow the instructions carefully. [20 marks] Question Sampling is the process of selecting a representative subset...
Follow the instructions carefully. [20 marks]
Question Sampling is the process of selecting a representative
subset of observations from a population to determine
characteristics (i.e. the population parameters) of the random
variable under study. Probability sampling includes all selection
methods where the observations to be included in a sample have been
selected on a purely random basis from the population.
Briefly explain FIVE (5) types of probability sampling.
Follow the instructions carefully. [20 marks] Question Sampling is the process of selecting a representative subset...
Follow the instructions carefully. [20 marks] Question Sampling
is the process of selecting a representative subset of observations
from a population to determine characteristics (i.e. the population
parameters) of the random variable under study. Probability
sampling includes all selection methods where the observations to
be included in a sample have been selected on a purely random basis
from the population. Briefly explain FIVE (5) types of probability
sampling.
Question: (20 Marks) 1. Discuss the HR planning process and its importance in light of the...
Question: 1. Discuss the HR planning process and its
importance in light of the 2020 trends. (20)
QUESTION 3 (20 MARKS) QUESTION 3 (20 MARKS) An analysis of the Business School graduates found...
QUESTION 3 QUESTION 3
An analysis of the Business School graduates found that 210 out
of 318 randomly selected graduates used An analysis of the Business
School graduates found that 210 out of 318 randomly selected
graduates used a statistical inference technique during
their first year of employment.a statistical inference technique
during their first year of employment.
(a) Calculate a 90% confidence interval for the proportion of
graduates who used a statistical inference (a) Calculate a 90%
confidence interval for the...
Question 2 [1 marks each/20 marks] True or false 5) In an unregulated competitive market, the...
Question 2 [1 marks each/20 marks] True or false 5) In an
unregulated competitive market, the presence of marginal external
cost of a good or service results in overproduction. 6) A marginal
external cost is the cost of producing an additional unit of a good
that falls on the producer. 7) Young drivers often buy used cars.
An increase in the legal driving age to twenty-one shifts the
demand curve for used cars leftward, whereas lowering the age to
fifteen...
Question 2 [1 marks each/20 marks] True or false 5) In an unregulated competitive market, the...
Question 2 [1 marks each/20 marks]
True or false
5) In an unregulated competitive market, the presence of marginal
external cost of a good or
service results in overproduction.
6) A marginal external cost is the cost of producing an additional
unit of a good that falls on the
producer.
7) Young drivers often buy used cars. An increase in the legal
driving age to twenty-one shifts
the demand curve for used cars leftward, whereas lowering the age
to fifteen...
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