A company produces a single product which passes through two processes; X and Y. The normal...

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A company produces a single product which passes through two processes; X and Y. The normal level of loss and the scrap value of any loss is as follows; Process X Process Y Normal loss as a percentage of input 10% 5% Scrap veue per kg GH¢3 GH¢6 The actual data incurred for the month of January, 2021 is as follows; Process X Process Y Output in kg 850 1,075 Direct materials introduced at start 1,000kg @ GH¢3.3 per kg 250kg @ GH¢12 per kg of process Direct labour GH¢850 GH¢1,500 Direct expenses GH¢750 GH¢1,510 Production overhead is absorbed on the basis of direct wages. The budgeted overheads for the accounting year was GH¢56,000 and the budgeted direct labour was GH¢28,000. there were no inventory of work-in-progress at the beginning or end of January, 2021. You are required to prepare the accounts for: (6) Each of the processes (ii) Normal loss (iii) Abnormal loss and / or gain. A company produces a single product which passes through two processes; X and Y. The normal level of loss and the scrap value of any loss is as follows; Process X Process Y Normal loss as a percentage of input 10% 5% Scrap veue per kg GH¢3 GH¢6 The actual data incurred for the month of January, 2021 is as follows; Process X Process Y Output in kg 850 1,075 Direct materials introduced at start 1,000kg @ GH¢3.3 per kg 250kg @ GH¢12 per kg of process Direct labour GH¢850 GH¢1,500 Direct expenses GH¢750 GH¢1,510 Production overhead is absorbed on the basis of direct wages. The budgeted overheads for the accounting year was GH¢56,000 and the budgeted direct labour was GH¢28,000. there were no inventory of work-in-progress at the beginning or end of January, 2021. You are required to prepare the accounts for: (6) Each of the processes (ii) Normal loss (iii) Abnormal loss and / or gain.

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Process x Ac Particulars Per Unit Amount Particulars Per Unit Amount To Direct Material 33 Per Unit 1000 3300 By Process Y Ac 7 per Unit 850 5950 To L... View the full answer