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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 |
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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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