Solution-Prepare the abnormal loss and abnormal gain

Prepare the abnormal loss and abnormal gain accounts

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Reference no: EM132996203

Question - Pogba Manufacturers produces a product in two phases details of the two processed for a period was as follows:

Process 1: Raw material: 6 000 kgs at $50 per kg Direct labour $ 66 000 Production overheads $ 56 100 Normal loss 10% of input Scrap value per unit: $10

Process 2: Added materials: 1500 kg at $40 per kg Direct labour: $ 49 000 Production overheads: $ 10 000 Normal loss: 15% of total input Scrap value per unit: $15 Actual outputs for the two processes were as follows: Process 1: 5 500 kgs Process 2: 6 000 kgs

Required -

A. Prepare the process 1 & 2 accounts.

B. Prepare the Abnormal Loss & Abnormal Gain accounts.

Reference no: EM132996203

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Prepare the abnormal loss and abnormal gain accounts

Reference no: EM132996203

Reference no: EM132996203

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