Problem 8.10 The input to a purifying process was 16,000 kgs of basic material purchased 1.20 per ig Process wages amounted to $720 and overhead cost was applied @ 240% of the labour cost Indirect materials of negligible weight were introduced into the process at a cost of $336. The actual output from the process weighed 15,000 kgs The normal yield of the process is 92% Any difference in weight between the input of basic material and output of purified material (product) is sold @ 0.50 per kg The process is operated under a licence which provides for the payment of royalty $0.15 per kg of the purified material produced Your are required Prepare 1 Purifying Process Account (2) Normal Wastage Account (3) Abnormal Wastage/Yield Account (4) Royalty Payable Account