Question
In: Accounting
Frank Health Juices manufacture one of its products through three separate stages. Details of production for...
Frank Health Juices manufacture one of its products through three separate stages. Details of production for the month ending 31st March were as follows:
Process
Fermenting Distilling Bottling
Input material: 65,000 kg $780,000 - -
Material added - $49,000 -
Direct Labour cost $114,600 $144,000 $225,600
Manufacturing Overhead $122,000 $126,000 $193,100
Normal losses 8% 5% 5%
Output 55,000 kg 53,000 kg 48,000 kg
Scrap value of losses - - $30.00/kg
The nature of the process requires equipment to be cleaned at the end of each month; hence there is no opening or closing stock of product in process.
Required:
i) The process account for each process: and
ii) The abnormal loss/gain account(s) showing the Frank Health Juices true loss/gain.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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