Booklet 4 Process Costing Solutions.xlsx - 2.80

Back to sheets

2.80 Unnamed: 1 Unnamed: 2 Unnamed: 3 Unnamed: 4 Unnamed: 5 Unnamed: 6 Unnamed: 7 Unnamed: 8 Unnamed: 9
Debits Credits Balance
Heating Process Account Units CPU Value Units CPU Value Units CPU Value
Raw Material 10000 1.2 12000 10000 12000
Labour (600 x £4.00) 2400 10000 14400
Fixed Overheads (600 x £3.25) 1950 10000 16350
Variable Overheads 1800 10000 18150
Normal Spoilage 1000 0.1 100 9000 2.0055555555555555 18050
Good Output to Mixing 9200 2 18400 -200 -350
Abnormal Gain 200 2 400 0 50
Debits Credits Balance
Abnormal Gain Account Units CPU Value Units CPU Value Units CPU Value
Abnormal Gain 200 2.01 401.99999999999994 200 401.99999999999994
Income Statement (Income) 200 2.01 401.99999999999994 0 0
Debits Credits Balance
Mixing Process Account Units CPU Value Units CPU Value Units CPU Value
From Heating Process 9200 2.01 18491.999999999996 9200 18491.999999999996
Direct Labour (520 x £5) 2600 9200 21091.999999999996
Fixed Overheads (520 x £3.25) 1690 9200 22781.999999999996
Variable Overheads 1000 9200 23781.999999999996
Normal Spoilage 460 0.2 92 8740 2.7105263157894735 23689.999999999996
Good Output 8600 2.7 23220 140 469.99999999999636
Abnormal Loss 140 2.7 378 0 91.99999999999636
Debits Credits Balance
Abnormal Loss Account Units CPU Value Units CPU Value Units CPU Value
Abnormal Loss 140 2.7 378 140 378
Cash & Cash Equivalents 140 0.2 28 0 350
Income Statement (Exp.) 350 0 0