Angolan Products Answer

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Discussion Question

Angolan Products processes its products through three separate stages. Details of production for the month ending 31 May were as follows:

Process Raw Materials Direct Production Normal Actual
Labour Overheads Loss Output
Primary 65,000 kg $0.60/kg $5,730 $3,240 10% 55,000
Secondary $7,200 $4,100 5% 53,000
Finishing $11,280 $9,655 5% 48,000

During the month $6,300 worth of materials were used in the secondary process. The nature of the process requires equipment to be cleaned at the end of each month; hence there is no opening or closing stock of product in process.

Losses from the finishing process are sold at $1.50 per kg.

Required:

i) The process account for each process: and
ii) The abnormal loss/gain account(s).