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Iron Spider Ltd produces a metallic paint, which is made in two production processes. The following information applies to last June's production. There was no
Iron Spider Ltd produces a metallic paint, which is made in two production processes. The following information applies to last June's production. There was no opening or closing inventory at the beginning and end of either process. All losses were sold to a reprocessing company.
25,000 units Direct labour Overheads Output Direct materials, Process 1 30,000 25,000 40,000 21,000 units Process 2 No further material input 38,725 50,000 21,450 units Scrap value of all losses 2.00 per unit Normal loss 10% of input 3.00 per unit 5% of input
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