Can anyone give me guidance on how to complete this question, I just can't get my head around it.
A company makes a product using 2 process
Process 1
No opening work in progress
Input materials 24000kgs costing £168000
Labour £52800
O/hs £13200
There were no process losses and 19000kgs were transferred to process 2. The unfinished production was complete as to materials and 60% complete as to labour and overheads.
Process 2
No opening work in progress
Completed good production 15200kgs
Labour £45752
O/hs 27353
Normal process loss is 5% on input which was achieved. The unfinished production was estimated to be 40% complete as to labour & overheads.
Hopefully someone out there is bored enough on this rainy Sunday to help point me in the right direction
