ILLUSTRATION ON PROCESS COSTING AND ASSIGNMENTS ON ACC 222-COST ACCOUNTING 2 FOR BOTH FULL TIME AND PART TIME

 

   PATRIOT ODUNARO BABATUNDE JIMOH (080384540008)

 

 ILLUSTRATION 1 :

(COPY IT INSIDE YOUR NOTE AND TO BE TREATED IN THE NEXT CLASS)

A product passes through two processes (P, Q) to completion. The following information

     were obtained from the company`s record.

                                                            Process P                     Process Q

                                                                N                                   N

     Material                                         130,000                       182,000

     Labour                                            104,000                         91,000

     Overhead                                       195,000                       130,000

     The input of material in Process A is 13,000kg while the outputs of the two processes are

     7,800kg and 5,200kg respectively. The scrap value of normal loss is N2 per unit. Normal

     loss is 10% of input.

     Prepared: Prepare

(i)                 Process P and Process Q Account

(ii)               Abnormal Loss/ Abnormal Gain Account

 ................................................................................................................................................

ASSIGNMENT 5

A product passes through two processes (A, B) to completion. The following information

were obtained from the company`s record.

                                                            Process A                    Process B

                                                                N                                  N

     Material                                          100,000                       140,000

     Labour                                              80,000                         70,000

     Overhead                                       150,000                       100,000

The input of material in Process A is 10,000kg while the outputs of the two processes are

6,000kg and 4,000kg respectively. The scrap value of normal loss is N2 per unit. Normal

loss is 10% of input.

Prepared: Prepare

(i)                 Process A and Process B Account

(ii)               Abnormal Loss/ Abnormal Gain Account

 

 

ASSIGNMENT 6

A product passes through two processes (X, Y) to completion. The following information

were obtained from the company`s record.

                                                            Process X                    Process Y

                                                                N                                  N

     Material                                          125,000                       175,000

     Labour                                            100,000                        87,500

     Overhead                                       187,500                       125,000

The input of material in Process A is 12,500kg while the outputs of the two processes are

 7,500kg and 5,000kg respectively. The scrap value of normal loss is N2 per unit. Normal

loss is 10% of input.

Prepared: Prepare

(i)                 Process X and Process Y Account

(ii)               Abnormal Loss/ Abnormal Gain Account

 

BEST OF LUCK! 

FUTURE BELONGS TO THOSE WHO PREPARE FOR IT!!-PATRIOT ODUNARO B.J

 

INSTRUCTION: 

FOR FULL-TIME:TO BE SUBMITTED ON OR BEFORE FRIDAY OCTOBER 3O, 2020 AROUND 12 NOON

 

FOR PART-TIME-TIME:TO BE SUBMITTED ON OR BEFORE SUNDAY NOVEMBER 1, 2020 AROUND 9AM

NOTICE: PREVIOUS ASSIGNMENTS CLICK THE LINK BELOW:

https://objunityonlineclasses.blogspot.com/2020/10/assignment-on-acc-222-cost-accounting-2.html