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4.2 Study the information provided below and answer the following questions. INFORMATION The data below relates to the production process of a small business. R

4.2 Study the information provided below and answer the following questions. INFORMATION The data below relates to the production process of a small business. R Input 5 000 kg of materials costing 600 000 Labour costs 100 000 Expenses cost 200 000 Overhead cost 100 000 Additional information: Normal loss is estimated to be 10 per cent of input. Losses are sold as scrap for R50 per kg. Actual outputREQUIRED: Prepare the following accounts: 4.2.1 The process account. (6 Marks) 4.2.2 The scrap account. (3 Marks) 4.2.3 The abnormal account. (3 Marks was 4 700 kg. REQUIRED:

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