Gaseous Generation Limited Produces Gases for Industrial Use

Gaseous Generation Limited produces gases for industrial use. In May, Process Gamma used 10,000 cubic metres of gas at a cost of £34,960. Waste gases generated by Process Gamma are expected to be 8% of input materials. Process Gamma conversion costs for May were £23,000. Waste gases from Process Gamma can be sold for 46 pence per cubic metre. Production in May was 9,000 cubic metres. What are the cost of finished production and the cost of abnormal losses that will be presented in the process account for Process Gamma for the month of May?

A) Cost of finished production: £56,250, Abnormal losses: £1,250
B) Cost of finished production: £56,340, Abnormal losses: £1,252
C) Cost of finished production: £56,700, Abnormal losses: £1,260
D) Cost of finished production: £57,592, Abnormal losses: £368