The following details are given to you: Particulars Process A Process B Process C Raw material used 1,000 kg Rs. 60,000 – – Indirect material Rs.…
BBS Cost and Management Accounting · 2082 · Solved Question with Answer
The following details are given to you:
| Particulars | Process A | Process B | Process C |
| Raw material used 1,000 kg | Rs. 60,000 | – | – |
| Indirect material | Rs. 52,000 | Rs. 39,600 | Rs. 59,240 |
| Labour cost | Rs. 40,000 | Rs. 60,000 | Rs. 80,000 |
| Production overhead 100% of labour | – | – | – |
| Actual output kg | 950 | 840 | 750 |
| Normal loss | 5% | 10% | 15% |
| Sale of scrap per kg | Rs. 40 | Rs. 80 | Rs. 100 |
Required: a. Process accounts b. Normal loss account c. Abnormal gain account d. Abnormal loss account