Explain if using volume-based cost drivers are relevant in the costing systems of 21st-century organisations
a) Explain if using volume-based cost drivers are relevant in the costing systems of 21st-century organisations
b) Can an organisation use more than one costing system? Explain with an example.
c) Summary information from KL Ltd's
Job January February March Completed Sold
X01 $4 500 $1 500 February Not sold
X02 $8200 january february
X03 $2520 february march X04 $3200 $1400 April Not sold
Required:
What are the balances for January, February and March for each of the following for KL Ltd:
- work in process inventory
- finished goods inventory and
- cost of goods sold
Present your answers (and work out) using the table below:
| Work in Process Inventory | Finished Goods Inventory | Cost of Goods Sold | |
| January | |||
| February | |||
| March |
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