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ESSENTIALS OF MANAGEMENT ACCOUNTING 15 OCTOBER 2020 PMA01964 Question 2 The following company uses process...

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ESSENTIALS OF MANAGEMENT ACCOUNTING 15 OCTOBER 2020 PMA01964 Question 2 The following company uses process costing in their costing system. The following data concern the operation's first processing department for September 2019. Direct materials and conversion cost are added continuously throughout the process. Units started into production during the month 11,000 Units completed and transferred out during the month 10,200 Costs added to production during the month: Direct materials cost RM140,112 Conversion cost RM559,520 Work in process, September 2019: Units in process 600 Percentage of completion with respect to direct 90% materials 20% Percentage of completion with respect to conversion cost a) Calculate the total equivalent units for direct materials and conversion cost. (8 marks) b) Calculate the cost per equivalent unit for direct materials and conversion cost. (6 marks) c) Calculate total cost for the period. (2 marks) d) Calculate the cost of completed production. (2 marks) e) Calculate cost of ending work in process inventory. (7 marks) (Total 25 marks)

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