A company manufactures a product that goes through two processes. You are given the following cost information about the process for the month of November 2019.

	Process 1	Process 2
Inputs (units)	15,000	-
Finished input from process 1	-	10,000
Finished output in process 2	10,000	-
Finished unit output from process 2	-	9,500
Opening WIP – Units	-	2,000
Opening WIP - Value	-	GHS 26,200
Input – Material	GHS 26,740	-
- Labour	GHS 36,150	GHS 40,000
- Overhead	GHS 40,635	GHS 59,700
Closing WIP – Units	4,400	1,800

You are told:

1. The closing Work-In-Progress in process 1 was 80% complete for material, 50% complete for labor and 40% complete for overhead.
2. The opening Work-In-Progress was 40% complete for labour and 50% complete for overhead. It had a value of labour of GHS 3,200; and overhead of GHS 6,000 for work done in process 2
3. The closing Work-In-Progress was two-thirds complete for labour and 75% complete for overhead.
4. No further material needed to be added to the units transferred from Process 1.
5. Normal loss is budgeted at 5% of total input in Process 1 and Process 2. Total inputs is to be inclusive of any opening Work-In-Progress
6. Normal loss has no scrap value in Process 1 and can be sold for the input value from Process 1 and Process 2
7. Abnormal losses have no sales value
8. It is company policy to value opening WIP in a process by Weighted Average Method

You are required to prepare the following accounts for the period:

1. Process 1 Account
2. Process 2 Account
3. Normal Loss Account
4. Abnormal loss/gain account

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