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REQUIRED Prepare the Process Cost Report for Process 2 using the weighted average method. INFORMATION...

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Accounting

REQUIRED Prepare the Process Cost Report for Process 2 using the weighted average method. INFORMATION Sika Ltd uses two processes to manufacture dust pans. The following details are applicable to Process 2 for March 2020: Production details Units Units of incomplete work (opening) (100% complete i.r.o. materials; 20% complete i.r.o. conversion costs) 30 000 Units received from the previous process 120 0000 Units completed and transferred ? Units of incomplete work (closing) (100% complete i.r.o. materials; 40% complete i.r.o. conversion costs) 60 000 Details in connection with costs: R Incomplete work (opening): 480 000 Costs of the previous process 378 000 Direct materials 66 000 Conversion costs 36 000 Costs incurred during March 2020: 1 030 200 Transferred from the previous process 678 000 Direct materials 126 000 Conversion costs 226200

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