Waec Model Questions Vol1 2022 Financial Accounting Question 4
Practice objective / multiple choice question 4 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
A production department uses the weighted‑average method of process costing. The following information is available: - Beginning work‑in‑process (WIP): 5,000 units, 40 % complete for materials and 30 % complete for conversion. Costs in beginning WIP: Materials ₦20,000; Conversion ₦15,000. - Units started during the period: 25,000 units (materials added 100 % when entered). - Ending WIP: 4,000 units, 70 % complete for materials and 50 % complete for conversion. - Costs added during the period: Materials ₦120,000; Conversion ₦90,000. Using the weighted‑average method, calculate the total cost of units transferred out of the department. (Express the answer in naira, rounded to the nearest whole naira.)
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About This Question
This is Waec Model Questions Vol1 2022 Financial Accounting Question 4. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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