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Nald Ltd. manufactures a chemical product and uses process costing to account for its work in progress. During the month of October 2013, 5,000 units...

Nald Ltd. manufactures a chemical product and uses process costing to account for its work in
progress. During the month of October 2013, 5,000 units were introduced to process 1 and the
following costs were incurred:
pain22020191057.png

Additional information:
1. The normal loss in process 1 was estimated at 10%.
2. The scrapped normal loss units were sold at Sh.4 per unit.
3. Inspection is usually done at the end of the process; therefore any units scrapped would have
passed through the entire process.

scrap22020191059.png

Required
i) Statement of equivalent production
ii) Statement of cost
iii) Statement of evaluation of finished goods
iv) Process 1 account

Answers

Martin
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marto answered the question on February 21, 2019 at 07:04

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