Booklet 4 Process Costing Solutions.xlsx - Worked Example 3
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| Worked Example 3 |
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Debits |
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Credits |
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Balance |
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| Process 2 Account |
Units |
CPU |
Value |
Units |
CPU |
Value |
Units |
CPU |
Value |
| Materials |
8000 |
1.2 |
9600 |
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|
8000 |
|
9600 |
| Labour (500 x £4) |
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|
2000 |
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8000 |
|
11600 |
| Overheads (500 x £6) |
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|
3000 |
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|
8000 |
|
14600 |
| Normal Loss |
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|
800 |
0.25 |
200 |
7200 |
2 |
14400 |
| Good Output to Stores |
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|
7000 |
2 |
14000 |
200 |
|
400 |
| Abnormal Loss |
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|
|
200 |
2 |
400 |
0 |
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0 |
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Debits |
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Credits |
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Balance |
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| Abnormal Loss Account |
Units |
CPU |
Value |
Units |
CPU |
Value |
Units |
CPU |
Value |
| Abnormal Loss |
200 |
2 |
400 |
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|
200 |
|
400 |
| Cash & Cash Equivalents |
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|
200 |
0.25 |
50 |
0 |
|
350 |
| Income Statement (Exp.) |
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350 |
0 |
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0 |