Need urgently within few minutes or else skip 6 Lindwal Ltd. manufactures a standard product through two successive processes. From the following details prepare the process accounts and finished stock account and also calculate the unrealised profit in stocks. State how the profit and stock should appear in the balance sheet. Process I Process II Rs. Rs. Materials 8,000 Wages 10,000 18,000 Overheads 4,000 7,000 Closing stock (at factory cost) 2,000 6,000 Closing stocks are valued at prime cost plus overhead. While transferring products from Process I to Process II and from Process II to finished stock, a profit of 20% on transfer price is added. Out of the products transferred to finished stock account, goods costing Rs. 5,000 remained unsold as on the closing date and the balance was sold for Rs. 60,000. There was no work-in-progress at the beginning and at the end of the accounting period