J & G Manufacturing makes a single product by way of three separate processes. Details of production for the month ending June 30 were as follows: Process Process 1 Process 2 Process 3 Input material: 16,250 kg $390,000 Material added $36,750 Direct Labour cost $57,300 $61,000 $92,200 $63,000 $112,800 Manufacturing Overhead Normal losses $97,080 8% 6% 6% 13,750 kg Output Scrap value of losses 13,250 kg 12,000 kg $16.00/kg | $32.00/kg| 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: i) ii) The process account for each process: and The abnormal loss/gain account(s) showing J & G Manufacturing true loss/gain.
J & G Manufacturing makes a single product by way of three separate processes. Details of production for the month ending June 30 were as follows: Process Process 1 Process 2 Process 3 Input material: 16,250 kg $390,000 Material added $36,750 Direct Labour cost $57,300 $61,000 $92,200 $63,000 $112,800 Manufacturing Overhead Normal losses $97,080 8% 6% 6% 13,750 kg Output Scrap value of losses 13,250 kg 12,000 kg $16.00/kg | $32.00/kg| 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: i) ii) The process account for each process: and The abnormal loss/gain account(s) showing J & G Manufacturing true loss/gain.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please answer question ii.
![J & G Manufacturing makes a single product by way of three separate processes. Details of
production for the month ending June 30 were as follows:
Process
Process 1
Process 2
Process 3
Input material:
16,250 kg
$390,000
Material added
$36,750
$112,800
$97,080
Direct Labour cost
$57,300
$61,000
$92,200
Manufacturing Overhead
$63,000
Normal losses
8%
6%
6%
Output
13,750 kg
13,250 kg
12,000 kg
Scrap value of losses
$16.00/kg | $32.00/kg
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:
i)
ii)
The process account for each process: and
The abnormal loss/gain account(s) showing J & G Manufacturing true loss/gain.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F38b916a3-2942-4a49-85b7-7dc768d97646%2F3f3b9a69-1533-4ca5-88a9-96a1230f3da5%2F0zcqze_processed.png&w=3840&q=75)
Transcribed Image Text:J & G Manufacturing makes a single product by way of three separate processes. Details of
production for the month ending June 30 were as follows:
Process
Process 1
Process 2
Process 3
Input material:
16,250 kg
$390,000
Material added
$36,750
$112,800
$97,080
Direct Labour cost
$57,300
$61,000
$92,200
Manufacturing Overhead
$63,000
Normal losses
8%
6%
6%
Output
13,750 kg
13,250 kg
12,000 kg
Scrap value of losses
$16.00/kg | $32.00/kg
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:
i)
ii)
The process account for each process: and
The abnormal loss/gain account(s) showing J & G Manufacturing true loss/gain.
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