Process Costing I Discussion Question Sparkling Beverages makes one of its products by way of three separate stages. Details of production for the month ending 31st January were as follows: Process...

Extracted text: Process Costing I Discussion Question Sparkling Beverages makes one of its products by way of three separate stages. Details of production for the month ending 31st January were as follows: Process Fermenting Distilling $780,000 Bottling Input material: 65,000 litres $89,000 $153,500 $126,000 5% 55,000 litres 53,000 litres 48,000 litres $18.00/litre $30.00/litre Material added $114,600 $122,000 8% $225,600 $193,100 5% Direct Labour cost Manufacturing Overhead Normal losses |Output Scrap value of losses 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) The process account for each process: and The abnormal loss/gain account(s) showing Sparkling Beverages true loss/gain. ii)