The following details are given to you: Particulars Process A Process B Process C Raw Material used 10,000 kg Rs. 40,000 Indirect Material Rs. 20,000…
BBS Cost and Management Accounting · 2079 · Solved Question with Answer
The following details are given to you:
| Particulars | Process A | Process B | Process C |
| Raw Material used 10,000 kg | Rs. 40,000 | ||
| Indirect Material | Rs. 20,000 | Rs. 30,000 | Rs. 35,000 |
| Labour Cost | Rs. 20,000 | Rs. 30,000 | Rs. 40,000 |
| Factory Overhead 50% of labour | |||
| Miscellaneous Expenses | Rs. 10,000 | Rs. 12,000 | Rs. 15,000 |
| Actual output kg | 9,500 | 9,000 | 8,000 |
| Normal loss on input | 5% | 10% | 10% |
| Sale of scrap per Kg. | Rs. 0.5 | Rs. 2.0 | Rs. 5.0 |
Required:
i) Process Accounts
ii) Normal Loss Account
iii) Abnormal Gain Account
iv) Abnormal Loss Account