Question MA2.6: The normal loss in process 2 is valued at its scrap value. E...
The normal loss in process 2 is valued at its scrap value. Extracts from the process account and the abnormal gain account for the latest period are shown below
Process 2 | |||
£ | £ | ||
Opening WIP | 1,847 | Output to fi nished goods | |
Conversion costs | 14,555 | – 5,100 units | 22,695 |
Input materials | 6,490 | Normal loss -100 units | 120 |
Abnormal gain – 220 units | Closing WIP |
Abnormal gain | |||
£ | £ | ||
Income statement | A | Process 2 | B |
The values to be entered in the abnormal gain account for the period are:
A = £ \boxed{\ \ \ \ \ \ \ \ \ \ \ \ }
B = £ \boxed{\ \ \ \ \ \ \ \ \ \ \ \ }
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