Process A Process B 40,000 Units introduced at OMR 360,000 a cost of Material Consumed | OMR 242,000 OMR 225,000 Direct Wages OMR 225.000 OMR 190,000 Manufacturing Expenses OMR 196,000 OMR 123,720 Output in Units 37,000 27,000 Normal Wastage of Input 5% 10% Scrap Value (per unit) OMR 15 OMR 20 Selling Price (per unit) OMR 37 OMR 61 Additional Information: (a) 80% of the output of Process-A, was passed on to the next process and the balance was sold. The entire output of Process-B was sold. (b) Indirect expenses for the year was OMR 448,080. (c) It is assumed that Process-A and Process-B are not responsibility centre. You are required to prepare: a) Process A and Process Accounts b) Profit and Loss Account showing the net profit net loss for the year. c) Operation costing is defined as refinement of Process costing. Explain