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  • Book 11

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    Leonard Ndlovu
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    This document summarizes the costs for a work in process control account. It shows direct material costs of R2,500, direct labor costs of R3,360, and manufacturing overheads of R8,400 for a total of R14,260. It then calculates the cost per unit of R172 and finished goods value of R13,760 for 80 units. It notes that closing WIP is unconverted material of R500 for the remaining 20 units of direct material.

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    This document summarizes the costs for a work in process control account. It shows direct material costs of R2,500, direct labor costs of R3,360, and manufacturing overheads of R8,400 for a total of R14,260. It then calculates the cost per unit of R172 and finished goods value of R13,760 for 80 units. It notes that closing WIP is unconverted material of R500 for the remaining 20 units of direct material.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    4 views2 pages

    Book 11

    Uploaded by

    Leonard Ndlovu
    This document summarizes the costs for a work in process control account. It shows direct material costs of R2,500, direct labor costs of R3,360, and manufacturing overheads of R8,400 for a total of R14,260. It then calculates the cost per unit of R172 and finished goods value of R13,760 for 80 units. It notes that closing WIP is unconverted material of R500 for the remaining 20 units of direct material.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 2

    WIP Control Account

    B/d 0 Finished Goods


    Direct material (100 x R25) 2500 Bal c/f
    Direct Labour (80 x 3 x R14) 3360
    Man. Oerheads (70000/2000 x 3 x 80) 8400

    14260

    Workings
    Cost per unit
    Direct material (100 x R25) 25
    Direct Labour (3 x R14) 42
    Man. Oerheads (70000/2000 x 3) 105 Closing WIP = unconverte
    172
    =
    Finished goods (R172 x 80) 13760

    or

    Direct material (80 x R25) 2000


    Direct Labour (80 x 3 x R14) 3360
    Man. Oerheads (70000/2000 x 3 x 80) 8400

    13760
    13760
    500

    14260

    Closing WIP = unconverted material

    (20 x R25) = 500

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