Prepare necessary accounts from the following details.
|
Particulars |
Process I |
Process II |
|
Materials – Rs. |
30,000 |
3,000 |
|
Labor – Rs. |
10,000 |
12,000 |
|
Overheads – Rs. |
7,000 |
8,600 |
|
Input [Units] |
20,000 |
— |
|
Transfer from Process I [Units] |
|
17,500 |
|
Normal loss |
10% |
4% |
|
Sales value of wastage per unit – Rs. |
Re.1 |
Rs.2 |
There was no opening or closing stock or work in progress
The final output from Process II was 17, 000 units.