The following are details in respect of Process X and Process Y of a processing factory:

The output of Process X is transferred to Process Y at a price calculated to give a profi t of 20% on the transfer price and the output of Process Y is charged to the fi nished stock at a profi t of 25% on the transfer price. Finished goods from Process Y were sold for Rs. 1,00,000 from the fi nished stock.
You are asked to show the process accounts and ascertain the total profi t assuming there was no opening or closing WIP.

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Process X Rs. Process Y Rs. Materials 10,000 Labour 10,000 14,000 Overheads 4,000 10,000