VRV Ltd. furnishes you the following information relating to Process “C” for the month of December 2009:

(i) Opening WIP – Nil.

(ii) Units introduced – 10,000 units @ Rs. 3 per unit.

(iii) Expenses debited to the process: Direct material –

Rs. 14,650; Labour – Rs. 21,373; Over-heads –

Rs. 41,775.

(iv) Normal loss in process – 1% of input.

(v) Closing WIP – 350 units.

Degree of completion: Materials – 100%; Labour &

Overheads – 50%.

(vi) Finished output – 9,500 units.

Degree of completion of abnormal loss: Materials –

100%; Labour & Overheads: 80%.

(vii) Units scrapped as normal loss were sold at Re 1 per unit.

(viii) All the units of abnormal loss were sold at Re 2.50 per unit.

Prepare

(a) Statement of equivalent production.

(b) Statement of cost of fi nished goods; Abnormal loss and closing WIP.

(c) Process C Account.

(d) Abnormal loss account.