G.H. & Company Ltd. manufactures a product in the process costing and its work-inprogress stock at the end of each month is valued at FIFO basis.

At the beginning of the month of June, the inventory of work-in-progress showed 400 units, 40 per cent complete, valued as follows:

In the month of June, materials were purchased for ₹75,000. Wages and overheads amounted to ₹79,800 and ₹21,285, respectively. Actual issue of material to production was ₹68,500. Finished stock was 2,500 units. There was no loss in process.
At the end of month, the work-in-progress inventory was 500 units, 60 per cent complete as to labour and overheads, and 80 per cent complete as to the material.
Prepare a process account for recording the month’s transactions and a process cost sheet showing the total unit costs.

Transcribed Image Text:

Material Labour *3,600 3,400 Overheads 1,000 8,000