PQR Company Ltd. provides the following information relating to Process-P: Opening Work-in-progress - NILUnits Introduced - 45,000 units @10 per…

Statement of Equivalent Production Input Details Units Output Particulars Units Equivalent Production Material Labour Overhead % Units % Units % Units Unit Introduced 45,000 Finished output 42,000 100 42,000 100 42,000 100 42,000 Normal loss (2% of 45,000) 900 - - - - - - Abnormal loss 300 100 300 80 240 60 180 Closing W-I-P 1,800 100 1,800 50 900 40 720 45,000 45,000 44,100 43,140 42,900 Statement of Cost Particulars Units Rate (₹) Amount (₹) Amount (₹) (i) Finished goods 42,000 17.9042 7,51,976.40 (ii) Abnormal Loss Material 300 11.5873 3,476.19 Labour 240 2.1048 505.15 Overhead 180 4.2121 758.18 4,739.52 (iii) Closing W-I-P: Material 1,800 11.5873 20,857.14 Labour 900 2.1048 1,894.32 Overhead 720 4.2121 3,032.71 25,784.17 Cost per Unit Particulars Amount (₹) Units Per Unit (₹) (i) Direct Material : Unit Introduced 4,50,000 Add: Material 65,500 5,15,500 Less: Value of normal loss (900 units × ₹ 5) (4,500) 5,11,000 44,100 11.5873 (ii) Labour 90,800 43,140 2.1048 (iii) Overhead 1,80,700 42,900 4.2121 17.9042 Process - P A/c Particulars Units Amount (₹) Particulars Units Amount (₹) To Input 45,000 4,50,000 By Normal loss 900 4,500 To Direct Material - 65,500 By Abnormal loss 300 4,740 To Labour - 90,800 By Finished goods 42,000 7,51,976 To Overhead - 1,80,700 By Closing W-I-P 1,800 25,784 45,000 7,87,000 45,000 7,87,000 Abnormal Loss A/c Particulars Units Amount (₹) Particulars Units Amount (₹) To Process-B A/c 300 4,740 By Cost ledger control A/c or Bank A/c 300 600 By Costing Profit & loss A/c - 4,140 300 4,740 300 4,740