[Question 3] Sugar cane industries Ltd produce vinegar. The product is made in two production...
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[Question 3] Sugar cane industries Ltd produce vinegar. The product is made in two production processes before completion and transferred to finished goods stock. For the week ended 26 November 2008, details of production were as follows: Process 1 Process 2 Direct materials (10000 litres) $5000 S- Labour $4000 S1800 Normal loss in process 2000 1350 Normal loss in process 10% of input 5% of input Output 9000 litres 8300 litres Scrap value of all losses S0.40 per litre $0.50 per litre Required: (a) Process 1 account (b) Process 2 account Kc) Abnormal loss account and abnormal gain account
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