PROCESS COSTING I Discussion Question J&G Manufacturing makes a single product by way of three separate processes. Details of production for the month ending June 30 were as follows: Process Process 1...

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Extracted text: PROCESS COSTING I Discussion Question J&G Manufacturing makes a single product by way of three separate processes. Details of production for the month ending June 30 were as follows: Process Process 1 Process 2 Process 3 Input material: Material added 16,250 kg $390,000 $36,750 $92,200 $63,000 $112,800 $97,080 Direct Labour cost $57,300 $61,000 Manufacturing Overhead Normal losses 8% 6% 6% 13,750 kg 13,250 kg 12,000 kg Output Scrap value of losses $16.00/kg $32.00/kg 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. Required: i) ii) The process account for each process: and The abnormal loss/gain account(s) showing J & G Manufacturing true loss/gain.