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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:
Process
A
B
C
D
Normal loss of input (%)
5
10
Scrap value ($ per unit)
1.50
2.00
4.00
Estimated sales value of by-product ($ per unit)
-
8.00
Output (units)
5,760
5,100
4,370
Output of by-product (units)
510
450
$
Direct materials (6,000 units)
12,000
Direct materials added in process
5,000
9,000
4,000
220
Direct wages
6,000
2,000
200
Direct expenses
800
1,680
2,260
151
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.
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