1 ranschem chemical processor uses two processes, mixng and distillation. The following details...
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Accounting
ranschem chemical processor uses two processes, mixng and distillation. The following details relate to the distillation process for a period:
No opening work in progress WIP
Input from mixing: at a cost of Shs
Labour for period
Shs
Overheads for period
Shs
Closing WIP of kg which was per cent complete for materials and per cent complete for labour and overheads. The normal loss in distillation is per cent of fully complete production. Actual loss in the period was kg fully complete, which were scrapped.
Required:
a Calculate whether there was a normal or abnormal loss or abnormal gain for the period
b Prepare the distillation process account for the period
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