QUESTION 4 Golden Tree's chocolate bars pass through two processes. The data for the month just...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
QUESTION 4 Golden Tree's chocolate bars pass through two processes. The data for the month just ended are: Process 1: Kg GH¢ Ingredients 4,000 5,000 Labour and overheads 6,000 Process 2: GH¢ Packaging 10,000 Labour and overheads 9,000 Golden Tree allows staff to eat 5% of the chocolate as they work on Process 1. There was no work in progress at the month end. Prepare the two process accounts and calculate the cost per kg. Required: (i) Compute the normal loss in units (ii) Prepare the process 1 account (iii) Prepare the Process 2 account QUESTION 4 Golden Tree's chocolate bars pass through two processes. The data for the month just ended are: Process 1: Kg GH¢ Ingredients 4,000 5,000 Labour and overheads 6,000 Process 2: GH¢ Packaging 10,000 Labour and overheads 9,000 Golden Tree allows staff to eat 5% of the chocolate as they work on Process 1. There was no work in progress at the month end. Prepare the two process accounts and calculate the cost per kg. Required: (i) Compute the normal loss in units (ii) Prepare the process 1 account (iii) Prepare the Process 2 account
Expert Answer:
Answer rating: 100% (QA)
Process 1 Amount Particulars 500000 Transferred to Process 2 600000 Normal Loss Particulars Units U... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
Posted Date:
Students also viewed these accounting questions
-
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the...
-
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departmentsMolding and Fabrication. It started, completed, and sold...
-
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March Job P and Job Q. Job P was completed and sold by the end of March...
-
An investment project provides cash inflows of $710 per year for 9 years. Required: What is the project payback period if the initial cost is 3,550?
-
IBM had inventories of $2.6 billion at December 31, 2011, and $2.5 billion a year earlier. 1. Suppose the beginning inventory for fiscal 2011 had been overstated by $20 million because of errors in...
-
Suppose the pump of Fig. P1423 is operating at free delivery conditions. The pipe, both upstream and downstream of the pump, has an inner diameter of 2.0 cm and nearly zero roughness. The minor loss...
-
At a given location, under normal conditions a river flows with a Manning coefficient of 0.030 , and a cross section as indicated in Fig. P10.47a. During flood conditions at this location, the river...
-
The net income for Lodi Co. for 2014 was $250,000. For 2014, depreciation on plant assets was $70,000, and the company incurred a gain on disposal of plant assets of $12,000. Compute net cash...
-
The Conrad-Demarest Model describes the conditions that the authors feel are necessary for an empire, as well as the factors that can lead to its downfall. 1.) How well do each of these empires fit...
-
You are considering a purchase of a 4-plex, which is located in a desirable neighborhood. The cost of the property is $500,000. Effective rents are expected to average $1500 per month. Every resident...
-
Following are Mill Co.s production costs for October: Direct materials $100,000 Direct labor 90,000 Factory overhead 4,000 What amount of costs should be traced to specific products in the production...
-
Which organizational structure would you prefer to work on as an employee? Least preferred? Why?
-
How can you evaluate the effectiveness of training?
-
In which model does an individual seek to make decisions with an aim to satisfy their own or an organizations interests or goals? Administrative model Political model Statistical model Classical...
-
Comment on whether external sources of recruitment such as advertisements, employment exchanges, employment agencies, educational institutes, labor contractors, recommendations, and so on will speed...
-
Which of these is a method of providing fiscal and non-fiscal aid to employees? MBO Psychological appraisals Compensation management None of the above
-
The Cartridges division of Gintex Corporation producescartridges that can be widely used by manufacturers of variousproducts. Sales and cost data on the cartridges are as follows:Selling price 2...
-
Suppose the spot and six-month forward rates on the Norwegian krone are Kr 5.78 and Kr 5.86, respectively. The annual risk-free rate in the United States is 3.8 percent, and the annual risk-free rate...
-
The following data are from financial statements of Stuart Inc. for the fiscal year ended March 1, 2014 (in millions): Requirements 1. Prepare a statement of cash flows for the fiscal year ended...
-
Research Capital, an investment banking company, has extra cash to invest. Suppose Research Capital buys 1,000 shares of Potash Corporation of Saskatchewan at $185 per share. Assume Research Capital...
-
Refer to TELUS'S financial statements in Appendix A at the end of the book, and answer the following questions: 1. How much was TELUS's depreciation and amortization expense during fiscal year 2011?...
-
What are a manager's resources?
-
What are the three levels of management?
-
Joe Maddon has been the manager of the Chicago Cubs since 2015. In his first year, he exceeded the expectations of most analysts and fans by leading the team to an appearance in the National League...
Study smarter with the SolutionInn App