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 27,000. Normal

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. 4,550 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 realisable value of 32 per unit You are required to PREPARE Process- I account, value of normal loss, abnormal loss and units transferred to Process-Il

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