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Required: a. Prepare Process I and Process 2 accounts (Show all workings) b. Normal Loss Account Abnormal loss/ Gain account (if any) C.

Required: a. Prepare Process I and Process 2 accounts (Show all workings) b. Normal Loss Account Abnormal loss/ Gain account (if any) C.

FINANCIAL ACCOUNTING
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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Question 3 Sinar Sdn Bhd produces a detergent known as "Turbo" which passes through two processes before completion. Data for the month of July 2010 were as follows: Process 1 RM5,000 RM3,000 RM1,000 Process 2 Total Direct materials (10,000 kg) Material added Direct expenses Overhead (absorbed as a percentage of direct wages / proportion of direct | wages) RM5,000 RM,5000 RM2,000 RM10,000 RM2,000 RM1,000 Direct labour Output Normal loss unit Scrap value /kg 800 hours 9,800kg 5% 600hrs 9,000kg 8% RM0.40 RM0.50 Additional information: Wages rate per hour First 500 hours Next 500 hours Note: The price per unit is to be calculated to four decimal places. Process 1 RM6.00 RM7.00 Process 2 RM6.00 RM7.00 Required: a. Prepare Process 1 and Process 2 accounts (Show all workings) b. Normal Loss Account c. Abnormal loss/ Gain account (if any)
Transcribed Image Text:Question 3 Sinar Sdn Bhd produces a detergent known as "Turbo" which passes through two processes before completion. Data for the month of July 2010 were as follows: Process 1 RM5,000 RM3,000 RM1,000 Process 2 Total Direct materials (10,000 kg) Material added Direct expenses Overhead (absorbed as a percentage of direct wages / proportion of direct | wages) RM5,000 RM,5000 RM2,000 RM10,000 RM2,000 RM1,000 Direct labour Output Normal loss unit Scrap value /kg 800 hours 9,800kg 5% 600hrs 9,000kg 8% RM0.40 RM0.50 Additional information: Wages rate per hour First 500 hours Next 500 hours Note: The price per unit is to be calculated to four decimal places. Process 1 RM6.00 RM7.00 Process 2 RM6.00 RM7.00 Required: a. Prepare Process 1 and Process 2 accounts (Show all workings) b. Normal Loss Account c. Abnormal loss/ Gain account (if any)
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