Anglian Products processes its products through three separate stages. Details of productionfor the month ending 31 May were as follows:ProcessRawMaterialsLabourOverNormalActualCostheadsLosOutput(Kg)(K/kg)(K)(K)(%)(Kg)Primary650000.605,7303,2401055000Secondary7,2004,10053000Finishing8,2805,16048000During the month K6,300 worth of materials were used in the secondary process. The natureof the processes require equipment to be cleaned at the end of each month. Thus there areno openings or closing stocks of products in process. Losses from the finishing process aresold at K1.25/kg.Required:i. The process account for each process;ii. The abnormal loss and abnormal gain accounts as appropriate.

Process costing is a method of costing whereby products go through various manufacturing levels and…

Answered: Anglian Products processes its products…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 10P: Aero Aluminum Inc. uses a process cost system. The records for May show the following information:...

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