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Prepare the process accounts and the abnormal loss

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Reference no: EM133201837

Question: Fabco Ltd had the following data for months 1 & 2 respectively:

  1. Cost of input to process - $65,000
  2. Input units = 1,500 & normal loss is 12%
  3. Output for month 1 was 1,300 units

The data remains the same for month 2 except that out was 1,350 units

Required: 

Prepare the process accounts and the abnormal loss or gain accounts for both periods.

Reference no: EM133201837

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