1.

Prepare the process I and Process II Accounts from the following information:ParticularsProcess IProcess IIWages and Material30,40012,000Works Overhead5,6005,250Production (in units)36,00037,500Stock (Units from preceding process 1st July 2018)4,000Stock (Units from preceding process 31st July 2018)1000

Answer»

Sol. In Process I, transfer to process II is RS 36,000 @ RS 1 per unit

In Process II, finished goods produced RS 56,250 @ RS 1.5 per unit.



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