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Rosewell Ltd produces Netbell, a product requiring two processes. Normal loss in each process is 10%. The following information relates to Period 2: Direct materials (4,000 units) Added direct materials (1,200 units) Direct labour Production overheads Output transferred to Process 2 Output transferred to finished goods Scrapped units are sold for $4 each Process 1 32 400 18 640 24 000 3 800 units Process 2 S 6 480 20 000 33 000 4 250 units

Rosewell Ltd produces Netbell, a product requiring two processes. Normal loss in each process is 10%. The following information relates to Period 2: Direct materials (4,000 units) Added direct materials (1,200 units) Direct labour Production overheads Output transferred to Process 2 Output transferred to finished goods Scrapped units are sold for $4 each Process 1 32 400 18 640 24 000 3 800 units Process 2 S 6 480 20 000 33 000 4 250 units

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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B. C. D. Prepare process 2 account Prepare abnormal loss and abnormal gain account Prepare scrap account
Transcribed Image Text:B. C. D. Prepare process 2 account Prepare abnormal loss and abnormal gain account Prepare scrap account
Rosewell Ltd produces Netbell, a product requiring two processes. Normal loss in each process is 10%. The following information relates to Period 2: Direct materials (4,000 units) Added direct materials (1,200 units) Direct labour Production overheads Output transferred to Process 2 Output transferred to finished goods Scrapped units are sold for $4 each Process 1 S 32 400 18 640 24 000 3 800 units Process 2 S 6 480 20 000 33 000 4 250 units
Transcribed Image Text:Rosewell Ltd produces Netbell, a product requiring two processes. Normal loss in each process is 10%. The following information relates to Period 2: Direct materials (4,000 units) Added direct materials (1,200 units) Direct labour Production overheads Output transferred to Process 2 Output transferred to finished goods Scrapped units are sold for $4 each Process 1 S 32 400 18 640 24 000 3 800 units Process 2 S 6 480 20 000 33 000 4 250 units
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