gce 2022 advanced level south west regional mock examination accounting 2

gce 2022 advanced level south west regional mock examination accounting 2

gce 2022 advanced level south west regional mock examination accounting 2

Answer FIVE questions choosing any TWO in section A and ALL in section B,
Calculators are allowed. OHADA Accounting plans are NOT allowed.
In calculations, you MUST show all the steps in your workings.
You are reminded of orderly presentation in your answers.

2.
products are then processed further in a common process
below relate to the month of August 2021:
Process 1 (CFAF)
600,000
765,000
.i
Direct material (30,000 at 20 CFAF per unit)
Labour and overhead costs
Scrap value of normal loss per unit
Additional information:
The output in process11 is transferred to process 2 and amounted to 26,000 units.
– The output in process 2 consists of three joint products as follows;
Products A B C
Quantity (units) 10,000 7,000 6,000
– The normal loss for both process 1 and process 2 is 10%.
The units selling price for N, B and C are 180 CFAF, 200 CFAF and 300 CFAF respectively.
– All joint products are sold as soon as they are produced.
– Sales 1 . – — m :mrvalue . – method — fcof joint * ” costs p . 8 i apportionment % i\ P’ J • is used.
Required:
Prepare the following:
a) Process 1 Account
b) Process 2 Account
c) Income statement for joint products

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