Question
The following data relates to Process 1. Materials input: 1,000 units costing $10,000 Labor costs: $8,000 Departmental overhead: $6,000 Normal loss is 4% of input
The following data relates to Process 1.
Materials input: 1,000 units costing $10,000
Labor costs: $8,000
Departmental overhead: $6,000
Normal loss is 4% of input and sold for scrap for $12 per unit.
Actual output = 944 units
Required:
Calculate the average cost per unit in Process 1 and fill in the process account, abnormal gain and loss account, and scrap account.
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
4th edition
1259578542, 978-1259578540
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