Input Output Equivalent Production Particulars Units Particulars Units Material Labour Overhead Units % Units % Units Opening XX Units XX XX XX XX XX Stock completed Units XX Normal XX introduced Loss XX Abnormal XX XX XX XX XX Loss Equivalent XX XX XX XX XX XXXX units Statement of Cost per Equivalent units Elements of Costing Costin 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 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 equivalent 121 XX XX XX XX XX XX Labour Overhead Material Labour Overhead XX XX Abnormal Loss 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 370,000 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%