Question: A product passes through Process- I and Process- II. Materials issued to Process- | amounted to 40,000, Wages * 30,000 and manufacturing overheads were *

A product passes through Process- I and Process-

A product passes through Process- I and Process- II. Materials issued to Process- | amounted to 40,000, Wages * 30,000 and manufacturing overheads were * 27,000. Normal loss anticipated was 5% of input. 4,750 units of output were produced and transferred-out from Process-l. There were no opening stocks. Input raw material issued to Process I were 5,000 units. Scrap has no realisable value. You are required to PREPARE Process- I account, value of normal loss and units transferred to Process-11

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