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Fabco Ltd had the following data for months 1 & 2 respectively:
a) Cost of input to process - $65,000
b) Input units = 1,500 & normal loss is 12%
c) Output for month 1 was 1,300 units
The data remains the same for month 2 except that out was 1,350 units
Required:
Prepare the process accounts and the abnormal loss or gain accounts for both periods.
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