Sparkling Beverages makes one of its products by way of three separate stages. Details of production for the month ending 31st January were as per the above:
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:
The process account for each process: and
ii) The abnormal loss/gain account(s) showing Sparkling Beverages true loss/gain.
Answer & Explanation
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