Equivalent Production Input Particulars Units Output Particulars Units Material Labour Overhead % Units % XX Units XX Units XX XX XX Opening Stock Units introduced XX Units XX completed Normal XX Loss Abnormal XX Loss Equivalent XX units XX XX XX XX XX XX XX XX XX XX XX Statement of Cost per Equivalent units Elements of Costing Cost in Equivalent Units Cost per equivalent Units in Material Cost XX XX XX Labour Cost XX XX XX Overhead Cost XX XX XX Statement of Evaluation Particulars Element of Equivalent Cost per Cost in Total Cost in Cost Units equivalent units in Units Completed Material XX XX XX XX Labour XX XX XX XX Overhead XX XX XX XX Closing WIP Material XX XX XX XX 121 XX XX XX XX XX Abnormal Loss Labour Overhead Material Labour Overhead XX XX XX XX XX XX XX XX XX XX XX XX XX XX XX Prepare a statement of equivalent production statement of cost. process account from the following Information using average costing method. Opening Stock 50,000 Units Material 25,000 Labour * 10,000 Overheads 25.000 Units Introduced 2.00.000 Units Material 1,00,000 Wages 75,000 Overheads $70,000 During the period 1,50,000 units were completed and transferred to Process Il. Closing stock 1,00,000 units. Degree of completion Material 100% Labour 50% Overheads 40%