User Account

All Pages

Prepare process accounts for both processes

Assignment Help Accounting Basics
Reference no: EM133106768

Question - Petro manufacturing Sdn Bhd produces a product which has to go through 2 process 1 and process 2.

The normal wastage for process 1 is 5% which can be sold to consumer at RM2 per kg and the normal wastage for process 2 is 10% which has no scrap value. In a given period the following data were recorded for process 1:

Material 160 kg at RM23 per kg

Labour RM1,448

Overhead RM1,448

The actual production was 150 kg which will be transferred to Process 2.

The actual costs for process 2 were as follows:

Labour RM1,500

Overhead RM1,000

The actual finished good to be sold to consumer are 137 kg (output)

Required - Prepare process accounts for both processes.

Reference no: EM133106768

Questions Cloud

Will he has enough savings to accommodate retirement plan : The person currently has $900,000 in savings that earns 8% interest annually. Will he has enough savings to accommodate this retirement plan
What amount of the dividend declaration for dividends : What amount of the 2019 dividend declaration for dividends in arrears was recorded with a debit to the Dividends payable account on the date of declaration
What was ending inventory using the fifo cost flow : During the year, Lauer sold 1,200 laptop computers. What was ending inventory using the FIFO cost flow assumption
Solve the volterra integral equation : Solve the Volterra integral equation - applying the inverse Laplace transform to the series in part
Prepare process accounts for both processes : The actual production was 150 kg which will be transferred to Process 2. Prepare process accounts for both processes
Determine the predetermined shop overhead rate : The average shop direct labor rate is $20 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round to the nearest cent
Determine the cost of goods sold on October : Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29
What would be the net fixed asset value : In 2020, the gross (tangible) fixed assets for a business were reported to be $100 million. What would be the net fixed asset value in 2020
What is his total taxable capital gain : Question - Mike Dixon purchased a 5 year, 7% bond with a face value of $10,000 for $9,600. What is his total taxable capital gain

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd