Question

A product passes through three pocess. A B and C. 10000 units at cost of 1.10 were issued to process A prepared different process account with abnormal account

Answer 1

Answer:

A product passes through three processes A, B and C. To process A, 10,000 units at Re 1 per unit were issued. The other direct expenses are as follows:

Explanation:

The wastage of process A was 5%, process B 4% and process C 5%. The wastage of process A was sold at Re 0.25 per unit, that of B at Re 0.50 per unit and that of C at Re 1 per unit. The overhead charges were 168% of direct labor. The final product was sold at Rs 10.0 per unit, fetching a profit of 20% on sale. Prepare process accounts and finished goods account.

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