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Process Accounts Overview and Analysis

The document presents the accounts for three processes, detailing the input costs, direct materials, wages, and overheads for each process. It also includes calculations for normal and abnormal losses and gains, along with the total amounts for each process. The total costs for Process I, II, and III are Rs. 12,000, Rs. 21,206, and Rs. 31,842 respectively.

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Yash Chavan
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6 views2 pages

Process Accounts Overview and Analysis

The document presents the accounts for three processes, detailing the input costs, direct materials, wages, and overheads for each process. It also includes calculations for normal and abnormal losses and gains, along with the total amounts for each process. The total costs for Process I, II, and III are Rs. 12,000, Rs. 21,206, and Rs. 31,842 respectively.

Uploaded by

Yash Chavan
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Process Accounts

Process I Account

Process I Account

| Particulars | Units | Amount (Rs.) | Particulars | Units |


Amount (Rs.) |
|--------------------------|--------|------------|---------------------------|--------|-
-----------|
| To Input (Raw material) | 1,000 | 5,000 | By Normal Loss (10%) | 100 |
300 |
| To Direct Material | | 2,000 | By Abnormal Gain | 20 |
260 |
| To Wages | | 3,500 | By Process II A/c | 920 |
11,960 |
| To Overheads | | 1,500 | | |
|
| Total | | 12,000 | Total | |
12,000 |

Process II Account

Process II Account

| Particulars | Units | Amount (Rs.) | Particulars | Units |


Amount (Rs.) |
|--------------------------|--------|------------|---------------------------|--------|-
-----------|
| To Process I A/c | 920 | 11,960 | By Normal Loss (5%) | 46 |
230 |
| To Direct Material | | 3,020 | By Abnormal Loss | 4 |
96 |
| To Wages | | 4,226 | By Process III A/c | 870 |
20,880 |
| To Overheads | | 2,000 | | |
|
| Total | | 21,206 | Total | |
21,206 |

Process III Account

Process III Account

| Particulars | Units | Amount (Rs.) | Particulars | Units |


Amount (Rs.) |
|--------------------------|--------|------------|---------------------------|--------|-
-----------|
Process Accounts

| To Process II A/c | 870 | 20,880 | By Normal Loss (10%) | 87 |


522 |
| To Direct Material | | 3,462 | By Abnormal Gain | 17 |
680 |
| To Wages | | 5,000 | By Finished Stock A/c | 800 |
30,640 |
| To Overheads | | 2,500 | | |
|
| Total | | 31,842 | Total | |
31,842 |

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