Please assist with questions 1 and 2. thank you Sparkling Beverages makes one of its products by way of three separate stages. Details ofproduction for the month ending 31* January were as follows:ProcessFementing Distilling$780,000BottlingInput material:65,000 litresMaterial added$89,000$225,600$193, 100Direct Labour cost$114,600$122,000$153,500Manufacturing OverheadNormal lossesOutputScrap value of losses$126,0008%5%5%55,000 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)The process account for each process: andThe abnormal loss/gain account(s) showing Sparkling Beverages true loss/gain.ii)

Process accounting means a method where raw material is added in different process and output of one…

Sparkling Beverages makes one of its products by way of three separate stages. Details of production for the month ending 31 January were as follows: Process Fementing Distilling $780,000 Bottling Input materiat Material added Direct Labour cost Manufacturing Overhead 65,000 litres $89,000 $153,500 $126,000 5% 55,000 litres 53,000 litres 48,000 litres $18.00Aitre| $30.00/litre $114,600 $122,000 8% $225,600 $193, 100 5% Normal losses Output Scrap value of losses 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) The process account for each process: and ii) The abnormal loss/gain account(s) showing Sparkling Beverages true loss/gain.

Sparkling Beverages makes one of its products by way of three separate stages. Details of production for the month ending 31 January were as follows: Process Fementing Distilling $780,000 Bottling Input materiat Material added Direct Labour cost Manufacturing Overhead 65,000 litres $89,000 $153,500 $126,000 5% 55,000 litres 53,000 litres 48,000 litres $18.00Aitre| $30.00/litre $114,600 $122,000 8% $225,600 $193, 100 5% Normal losses Output Scrap value of losses 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) The process account for each process: and ii) The abnormal loss/gain account(s) showing Sparkling Beverages true loss/gain.

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 10E: Costs per equivalent unit Georgia Products Inc. completed and transferred 89,000 particle board...

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