1. A company manufactures a single product which passes through two processes the output of process 1 becoming the input to process 2.Normal losses and abnormal losses are defective units having a scrap value and cash is received at the end on the period for all such units. The following information relates to the four week period. Raw material issued to process I was 3,000 units at the cost of Rs. 5/- per unit. There was no opening and closing work-in-progress but opening and closing stock of finished goods were Rs. 20,000/- and Rs. 23,000/- respectively. Process 1 Process 2 Normal loss as a percentage of input 10% 5% Output in units 2,800 2,600 Scrap value per unit Rs. 2 Rs. 5 Additional Components 1,000 780 Direct wages incurred 4,000 6,000 Direct expenses incurred 10,000 14,000 Production O/H as a percentage of wages 75% 125% You are required to present the account for a) Process 1 and 2 b) Finished Goods c) Normal Loss d) Abnormal Loss e) Abnormal Gain f) Profit & Loss Account