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.