1. During February the following costs were incurred in a process: Materials (5,000 kg) $15,000 Labour $12,500 Overheads $25,000 A normal loss of 10% of input was expected. Actual output was 4,610 kg. Losses are sold as scrap for $2.50 per kg. Required: a) Calculate the cost per kg b) Prepare a Process Account c) Prepare a Loss Account 15 marks 2. During March the following costs were incurred in a process: Materials (4,000 kg) $40,000 Labour $30,000 Overheads $25,000 A normal loss of 10% of input was expected. Actual output was 3,420 kg. Losses are sold as scrap for $9.00 per kg. Required: a) Calculate the cost per kg b) Prepare a Process Account c) Prepare a Loss Account 15 marks Total 50 marks