Reference no: EM132609903

Portmore Chemicals process a range of products including a detergent "Blasto", which passes through three processes before completion and transfer to the finished goods warehouse. The following data relates to the month of April:

                                                         Process 1                    Process 2                Process 3              Total

                                                      $                             $                          $                   $

Direct material added in process          8,600                     10,500                    6,000            25,100

Direct wages                                      5000                      8,000                     12,000            25,000

Direct expenses                                    4,700                     3,480                       6,080          14,260

Production overheads                                 4,000                    7,000                      5,500         16,500

Output (units)                                                  9,200                8,700                       7,900

Normal loss (% of input units)                                 10                      5                          10

Scrap value                                                       $0.30                     $0.50                   $1.00

10 000 units at $1.40 each were issued to process 1.

REQUIRED:

Question A. Prepare the following accounts

i. Process 1

ii. Process 2

iii. Process 3

iv. Abnormal Loss

v. Abnormal Gain

vi. Finished Goods A/C

Question B. Identify four (4) distinguishing features between job order costing and process costing.