a$)$ The following details were extracted from the stores ledger card of a small manufacturing company during the month of November $2016$

November

$2$ Received $500$ units @ shs $20$ each

$8$ Received $300$ units @ shs $22$ each

$10$ Issued $400$ units

$15$ Issued $200$ units

$20$ Received $600$ units @ shs $25$ each

$25$ Issued $300$ units

$27$ Received $200$ units @ shs $26$ each

$30$ Issued $100$ units

Standard price for each unit after the month of may is shs $25/.$ Market price of this material on December is shs $27/$ unit and $400$ units were purchased on that day

Required

Prepare stores ledger card to record the above transactions using weighted average method and simple average method

What is the closing stock in units and kshs for both methods $(8$marks

b$)$The manufacturer of product Gero requires three distinct processes A$-$C$.$ On completion the product was passed from process C to finished goods stock. The following information was obtained in respect of the product

$5,000$ units of raw materials at ksh $250$ were issued to process A and other costs incurred are given below

ELEMENT OF COST PROCESS TOTAL

A B C

Kshs kshs kshs Kshs

Direct materials $5,00012,00018,00035,000$

Direct labour $30,00020,00010,00060,000$

Direct expenses $2,8005,2002,00010,000$

Production overheads $---90,000$

Production overhead is absorbed by each process at $100\%$ of direct labour

You are required to prepare the process accounts