card for materials used exclusively by the first process shows the following data for May 2018: A product is manufactured by passing chemicals through two consecutive process, stores record 4,000 units at a cost GHC1,080 20,000 units at a Cost of GHC6,100 8,000 units at a cost GHC2,420 Opening stock Receipt from a stores Closing stock Other process cost data for the period is as follow: 1 Process 2 Direct labour GHC488 GHC600 Direct expenses GHC427 Overheads 250% of direct labour 100% of direct labour Output 8,000 7,500 units Closing WIP 5,600 units Normal yield 85% of input 90% of input Scrap value of losses GHC0.17 per unit GHC0.15 per unit In process 1 the closing WIP has just passed through inspections, which is at the stage where materials and conversion cost are 100% and 75% complete respectively. In process 2, inspection is at the final operation. Required: Prepare relevant accounts to show the result of the process for May card for materials used exclusively by the first process shows the following data for May 2018: A product is manufactured by passing chemicals through two consecutive process, stores record 4,000 units at a cost GHC1,080 20,000 units at a Cost of GHC6,100 8,000 units at a cost GHC2,420 Opening stock Receipt from a stores Closing stock Other process cost data for the period is as follow: 1 Process 2 Direct labour GHC488 GHC600 Direct expenses GHC427 Overheads 250% of direct labour 100% of direct labour Output 8,000 7,500 units Closing WIP 5,600 units Normal yield 85% of input 90% of input Scrap value of losses GHC0.17 per unit GHC0.15 per unit In process 1 the closing WIP has just passed through inspections, which is at the stage where materials and conversion cost are 100% and 75% complete respectively. In process 2, inspection is at the final operation. Required: Prepare relevant accounts to show the result of the process for May