preraditi

1. (of a text, project) to revise; to rework
   Moram da preradim ceo prvi deo rada. — I have to rework the whole first part of the paper.
   Reditelj je preradio scenario posle prve probe. — The director revised the script after the first rehearsal.
2. (of raw material) to process
   Fabrika je prošle godine preradila hiljadu tona voća. — Last year the factory processed a thousand tons of fruit.

The imperfective is prerađivati; prerađena hrana means "processed food".