18. Product AB passes through two processes A and B before it is transferred to finished stock. The following information is obtained for the month of January Process A Process B Finished (Rs.) (Rs.) Stock (Rs.) Opening Stock 12,000 15,000 20,000 Direct Material 30,000 40,000 Direct Wages 25,000 30,000 Factory Overhead 20,000 30,000 Closing Stock 7,000 15,000 20,000 Inter-process profit 3,125 9,750 included in Opening Stock The output of process A is transferred to process B at 25% profit on the cost price. The output of process B is transferred to finished stock at 25% profit on cost price. The stocks in process are valued at prime cost. The finished stock is valued at the price at which it is received from process B Sales during the period are Rs.300,000