Product AB passes through two processes A and B before it is transferred to finished stock. The following information is obtained for the month of January: Process A (Rs.)Process B (Rs.)Finished…

Product AB passes through two processes A and B before it is transferred to finished stock. The following information is obtained for the month of January: Process A (Rs.)Process B (Rs.)Finished Stock (Rs.)Opening Stock12,00015,00020,000Direct Material30,00040,000-Direct Wages25,00030,000-Factory Overhead20,00030,000-Closing Stock7,00015,00020,000Inter-process profit included in Opening Stock-3,1259,750 The output of process A is transferred to process B at 25% profit on the cost price. The output of process B is transferred to finished stock at 25% profit on cost price. The stocks in process are valued at prime cost. The finished stock is valued at the price at which it is received from process B. Sales during the period are Rs.300,000 Required: a. Process Account b. Finished Stock Account c. Actual realized profit d. Stock valuation for Balance Sheet purpose (5+5+3+1+1)