Question: answer all questions Question 2 b-(11 marks) A company had 50,000kg of Bento into its production process. Normal loss is expected to be 10% of

answer all questions answer all questions Question 2 b-(11 marks) A company had 50,000kg of

Question 2 b-(11 marks) A company had 50,000kg of Bento into its production process. Normal loss is expected to be 10% of input and the costs associated with the process was $855,000 and there was no ending work-inprogress. The scrap value of losses is estimated to be $10.80 per kg. Calculate: a. The cost per kg. if output was (i) 46,500kg. and (ii) 44,000kg. (3 marks) b. The value of the abnormal gain/loss. (2 marks) c. Prepare the process accounts to reflect the abnormal gain/loss. (6 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Required A) Prepare in general journal format the entries required in the Ponce de Leon Endowment Fund to record the transactions occurring during the fiscal year ending June 30, 2023, including all...

Question 1 (24 marks) Wheat Co. is the main supplier of wheat breads to customers in Kingston. The company currently makes 18,750,000 units of wheat bread annually which uses baking flour. Production...

Question Wheat Co. is the main supplier of wheat breads to customers in Kingston. The company currently makes 18,750,000 units of wheat bread annually which uses baking flour. Production takes place...

Question 1 A company had 50,000 kg of Bento into its production process. Normal loss is expected to be 10% of input and the costs associated with the process was $855,000 and there was no ending...

Question 2 b A company had 50,000 kg of Bento into its production process. Normal loss is expected to be 10% of input and the costs associated with the process was $855,000 and there was no ending...

Question 1 A company had 50,000 kg of Bento into its production process. Normal loss is expected to be 10% of input and the costs associated with the process was $855,000 and there was no ending...

Question 1: 10 marks 1. The Miller-Modigliani theorem proposes that debt is irrelevant. Under what conditions is this true? When these conditions are relaxed, how does changing the debt ratio affect...

Need help answering these questions the first 4 pictures are the questions. The next 8 pictures contain information to answer the questions. Question 2 At the most recent balance sheet date. Amazon's...

The number of errors in a textbook follow a Poisson distribution with a mean of 0.01 error per page. What is the probability that there are three or less errors in 100 pages?

The following transactions pertain to ALFA Solutions, Inc. Assume the transactions for the purchase of the computer and any capital improvements occur on January 1 each year. 2010 1. Acquired $50,000...

The balanced scorecard attempts to solve what major issue associated with traditional accounting reports ? Question content area bottom Part 1 A . Traditional accounting reports are not easily...

https://media.cheggcdn.com/media/e59/e5900ba1-02b0-44ab-8246-fb980e24e7c1/phpDkQ6Ux

This is a project into which you can sink your teeth.

Their computer is similar ours.

She is active in not only a civic group but also in an athletic organization.