Problem-5

The following particulars ate obtained in respect of process C for the month of March:

Cost incurred Tk.Materials5350Labor13910Factory overhead10700

Received from process B: 2500 units valued at Tk. 20085.

Units scraped: 200

Scrap is sold at Tk 2.25 per unit

Normal loss: 5% of actual production

Work in progress at the end of month: 500 units (60% of the units 50% completed; 20% of the units are 60% completed and rest the units are 20% completed.)

Prepare the necessary statement and complete Process Account-C.