Need help with this, show all working Discussion QuestionJ & G Distilleries makes one of its products by way of three separate stages. Details ofproduction for the month ending 31st January were as follows:ProcessFermenting Distilling$780,000BottlingInput material:Material added65,000 litres$89,000Direct Labour cost$114,600$122,000$153,500$126,000$225,600Manufacturing OverheadNormal losses$193,1008%5%5%OutputScrap value of losses55,000 litres 53,000 litres 48,000 litres$18.00/litre $30.00/litreThe nature of the process requires equipment to be cleaned at the end of each month; hencethere is no opening or closing stock of product in process.Required:i)ii)The process account for each process: andThe abnormal loss/gain account(s) showing J & G's true loss/gain.

Fermenting Account Explanation Units (kg) Total cost Explanation Units (kg)…

J & G Distilleries makes one of its products by way of three separate stages. Details of production for the month ending 31st January were as follows: Process Fermenting Distilling $780,000 Bottling |Input material: Material added 65,000 litres $89,000 Direct Labour cost $114,600 $122,000 $153,500 $126,000 $225,600 $193,100 5% Manufacturing Overhead Normal losses 8% 5% Output Scrap value of losses 55,000 litres 53,000 litres 48,000 litres $18.00/litre $30.00/litre 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.

J & G Distilleries makes one of its products by way of three separate stages. Details of production for the month ending 31st January were as follows: Process Fermenting Distilling $780,000 Bottling |Input material: Material added 65,000 litres $89,000 Direct Labour cost $114,600 $122,000 $153,500 $126,000 $225,600 $193,100 5% Manufacturing Overhead Normal losses 8% 5% Output Scrap value of losses 55,000 litres 53,000 litres 48,000 litres $18.00/litre $30.00/litre 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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