* not completed

. Which one of the following statements is incorrect?

Debit process account, Credit abnormal gain account. correct incorrect

Debit abnormal loss account, Credit process account. correct incorrect

Debit normal loss account, Credit process account. correct incorrect

Debit abnormal gain account, Credit costing statement of profit or loss. correct incorrect

* not completed

. ABC Limited uses 12,000 litres of material in its paint making process. Output is expected to be 95% of input materials. Materials cost for the process in May was £19,836. Labour and overhead costs in the month were £6,612. Output for May was 11,600 litres of paint. What is the value of the abnormal gain in May?

£342 correct incorrect

£348 correct incorrect

£456 correct incorrect

£464 correct incorrect

* not completed

. During the month of July, DEF Limited uses 8,000 litres of material in its glue-making process. Normal losses are 6.25% of input materials. The cost of materials used in the process during July was £18,000 while labour and overhead costs for the month were £6,000. Output during the month was 7,580 litres of glue. What are the values attributed to normal loss and abnormal gain in the process account for July?

Normal loss: £Nil, Abnormal gain: £240 correct incorrect

Normal loss: £Nil, Abnormal gain: £256 correct incorrect

Normal loss: £1,500, Abnormal gain: £240 correct incorrect

Normal loss: £1,600, Abnormal gain: £256 correct incorrect

* not completed

. GHI Limited runs two processes in its production of chemicals, process A and process B. When process A is run, normal losses of 6% of input materials are incurred while the operation of process B incurs normal losses of 4%. During August, GHI Limited used 50,000 litres of input material in process A and 45,000 litres of input material in process B. Output from process A was 46,900 litres of finished goods while process B produced 43,400 litres of completed output. Were there abnormal gains or abnormal losses in the operation of the two processes during August?

Process A: Abnormal loss, Process B: Abnormal loss correct incorrect

Process A: Abnormal gain, Process B: Abnormal gain correct incorrect

Process A: Abnormal loss, Process B: Abnormal gain correct incorrect

Process A: Abnormal gain, Process B: Abnormal loss correct incorrect