Past paper questions A manufacturing company has a product that passes through two processes. The following information relates to Period 2. Processi Process 2 Direct materials (4000 units) $32 400 Added direct materials (1200 units) $6 480 Direct labour $18 640 $20 000 Production overheads $24 000 $33 000 Output transferred to Process 2 3 800 units Output transferred to finished goods 4 250 units Normal loss in each process in 10% and scrap can be sold for $4 each. Required: A. Prepare Process 1 and Process 2 accounts B. Prepare any Abnormal loss/Gain accounts (20 marks) (5 marks) (Total 25 marks)