V. A product passes through two processes following information is obtained for the month March 2021 (In Rupees) P-I P- II Finished Stock Opening stock 7500 9000 22500 Direct material 15000 15750 Direct wages 11200 11250 4500 10500 Production Overheads Closing stock 3700 4500 11250 Profit % on transfer price 25% 20% Inter process profit for opening stock 1500 8250 Stock in process are valued at prime cost. Sale during the period were Rs. 1,40,000. Prepare (a) Process cost account showing the profit element at each stage, (b) Actual realized profit (C) Stock valuation (15)