The input to a purifying process is: Direct Materials Direct Labour Overheads 80,000 kilos @ $8 per kilo 10,000 hours @ $7 per hour $140,000 Normal loss is 5% of input with any scrap sold for $1.50 per kilo. Actual output is 62,000 kilos with closing work in progress at the end of the period being 6,000 kilos - fully complete for materials but only 60% complete for conversion costs. Required: a) Complete the Process Account. b) Complete any Abnormal Loss or Gain Account. c) Complete the Scrap Account. d) Explain the difference between a Joint and a By-product. (15 marks) (5 marks) (2 marks) (3 marks)