cost accounting

Question 4 Asana company limited is into production of bricks .For the period jut ended 30 April the company initiated 2,500units of material ODA into production expecting 15% to go waste. However 80% of the input mayerial came out as good. It cost Asana company 50,000GHS to obtain the material. Labour cost has be agreed at 60% of the material cost whilst overhead cost is always at 4 of the material cost. Normal loss can be sold at 1.50GHS per unit. Required: i) Estimate the cost of each finished good (2 marks) ii) What is the value of abnormal loss/ abnormal gain if any? (2 marks) iii) Show the process account (6 marks) iv)State three features of process costing system (3marks) (Total 13 marks)