Veromora Manufactures sand products in its forming department. Veromora operate a process costing system. All direct...

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Veromora Manufactures sand products in its forming department. Veromora operate a process costing system. All direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Total overhead for the period was 2,707,250. A further analysis of overhead was provided as fallow Machine setup Material Handling Procurement Deliveries The organization provided the fallowing activities No of setup Movement of material Machine setup Material Handling Procurement Deliveries No of orders No of deliveries Materials added Completed during the month Normal loss 8% of input Direct Materials TZS Product Z 2 8 4 1 The management accountant of Veromora has provided you with the following summary data for December regarding to Product z. Units Total costs 1,360,000 Scrap value of the normal loss is TZS 55 per unit. There is no opening or closing stock of work-in- progress in December. Required: Prepare for the month of December: The process account; (1) (ii) The normal loss (scrap) account; (iii) The abnormal loss/abnormal gain account. Labour TZS % of overhead 34.5221% 19.481% 13.5285% 32.4684% 1,284,000 Product X 6 4 1 2 Overheads TZS 10,000 9,000 Veromora Manufactures sand products in its forming department. Veromora operate a process costing system. All direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Total overhead for the period was 2,707,250. A further analysis of overhead was provided as fallow Machine setup Material Handling Procurement Deliveries The organization provided the fallowing activities No of setup Movement of material Machine setup Material Handling Procurement Deliveries No of orders No of deliveries Materials added Completed during the month Normal loss 8% of input Direct Materials TZS Product Z 2 8 4 1 The management accountant of Veromora has provided you with the following summary data for December regarding to Product z. Units Total costs 1,360,000 Scrap value of the normal loss is TZS 55 per unit. There is no opening or closing stock of work-in- progress in December. Required: Prepare for the month of December: The process account; (1) (ii) The normal loss (scrap) account; (iii) The abnormal loss/abnormal gain account. Labour TZS % of overhead 34.5221% 19.481% 13.5285% 32.4684% 1,284,000 Product X 6 4 1 2 Overheads TZS 10,000 9,000