Particulars Units Amount Particulars Units Amount Rs. Rs. To Opening 2,000 9,500 By Finished 8,000 1,56,300 WIP Stock transferred to next process (9,500+8,800+ 1,38,000) To Materials 8,000 96,000 BY WIP A/C 2,000 35,000 To Labour 54,600 To 31,200 Overheads Total 10,000 1,91,300 Total 10,000 1,91,300 S6 From the following information for the month of May 2016, prepare process cost accounts for Process Il by using FIFO method to value equivalent production Direct Materials added in Process 2000 units @ Rs. (Opening WIP) 25,750 Transfer from Process 53,000 units @ Rs. 4,11,500 Transfer to Process III 48,000 units Closing stock of Process 1 5,000 units Units scrapped 2,000 Directs material added in Process II Rs. 1,97,600 Direct Wages Rs. 97,600 Direct overheads Rs. 48,800 Degree of completion: Closing Stock Scrap Materials Labour Overheads Opening Stock 80% 60% 60% 70% 50% 50% 100% 70% 70%