Process 1 AP beer company prepare beer using two processes, information for the next period Is as follows: Input materials 2,000 Kgs @ a total cost of 22,000 Labor costs $12,000 Overhead costs 65% of Labor Normal loss is estimated to be 10% of input Losses may be sold as scrap for $15 per Kg Actual output 1,720 Kgs Process 2 Input from process 1 Labor cost $15,500 Overhead costs 65% of Labor Actual output 1,658 Kgs Losses may be sold as scrap for $12 per Kg Required i. Prepare process account one ii. Complete process account 2

Process 1 AP beer company prepare beer using two processes, information for the next period Is as follows: Input materials 2,000 Kgs @ a total cost of 22,000 Labor costs $12,000 Overhead costs 65% of Labor Normal loss is estimated to be 10% of input Losses may be sold as scrap for $15 per Kg Actual output 1,720 Kgs Process 2 Input from process 1 Labor cost $15,500 Overhead costs 65% of Labor Actual output 1,658 Kgs Losses may be sold as scrap for $12 per Kg Required i. Prepare process account one ii. Complete process account 2

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter5: Support Department And Joint Cost Allocation

Section: Chapter Questions

Problem 4CMA: Tucariz Company processes Duo into two joint products, Big and Mini. Duo is purchased in...

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using the physical quantities method
Subject: acounting
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