Product M is obtained after it passes through three distinct processes. The following information is obtained from the accounts for the week ending 31 December 2015. Particulars Total Amount Process Process II Process III $ $ $ $ Direct 28,736 10,400 Material 9,336 9,000 Direct Labor 33,600 12,800 8,400 12,400 Direct 24,000 8,000 12,000 4,000 Expenses Production 50,400 Overhead In Process I:- 4,800 units @ $10 each were introduced. There was no stock of materials or work in progress at the beginning or at the end of the period. The output of each process passes directly to next process and finally to the finished store. Production overhead is recovered on 150% of direct wages. The following additional data are obtained. Particulars Output during % of normal Value of the week loss to input scrap per unit Process I 4,320 units 10% $2 Direct 24,000 8,000 Expenses 12,000 4,000 Production 50,400 Overhead In Process I:- 4,800 units @ $10 each were introduced. There was no stock of materials or work in progress at the beginning or at the end of the period. The output of each process passes directly to next process and finally to the finished store. Production overhead is recovered on 150% of direct wages. The following additional data are obtained. Particulars Output during % of normal Value of the week loss to input scrap per unit Process I 4,320 units 10% $2 Process II 4,000 units 5% $4 Process III 3,600 units 15% $5 Prepare Process Cost Accounts and Abnormal Loss and Abnormal Gain Accounts. (34 = 12 Marks) A BI 3