The following details are taken from a factory: ParticularsProcess I (Rs.)Process II (Rs.)Opening stock20,00030,000Direct material80,00060,000Direct wages60,00040,000Production…

The following details are taken from a factory: ParticularsProcess I (Rs.)Process II (Rs.)Opening stock20,00030,000Direct material80,00060,000Direct wages60,00040,000Production overhead40,00020,000Closing stock on prime cost50,00060,000Inter process profit on opening stock5,000 The output of process I is transferred to process II at a profit of 20% on cost price and that of process II to finished stock at a profit of 25% on transfer price. The factory sold 80% of the finished goods for Rs. 420,000. Required: Process I Accounts Process II Account Finished stock account Actual realized profit [4+5+4+2]