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A product is manufactured by passing through three processes: A, B and C. In process C a by-product is also produced which is then transferred to process D where it is completed. For the first week in October, actual data included:
Normal loss of input (%)
Scrap value ($ per unit)
Estimated sales value of by-product ($ per unit)
Output of by-product (units)
Direct materials (6,000 units)
Direct materials added in process
You are required to prepare:
(a) Accounts for process A, B, C and D
(b) Abnormal loss account and abnormal gain account
Note: Assume that overheads are to be absorbed using the direct wages percentage method.
Q. Explain Break-even revenue? Sales revenue earned would give no profit and no loss. It can be computed by multiplying break-even volume (above) by products selling price, or
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