G.H. & Company Ltd. manufactures a product in the process costing and its work-inprogress stock at the end of each month is valued at FIFO basis. At the beginning of the month of June, the inventory...

G.H. & Company Ltd. manufactures a product in the process costing and its work-inprogress stock at the end of each month is valued at FIFO basis. At the beginning of the month of June, the inventory of work-in-progress showed 400 units, 40 per cent complete, valued as follows:

In the month of June, materials were purchased for `75,000. Wages and overheads amounted to `79,800 and `21,285, respectively. Actual issue of material to production was `68,500. Finished stock was 2,500 units. There was no loss in process. At the end of month, the work-in-progress inventory was 500 units, 60 per cent complete as to labour and overheads, and 80 per cent complete as to the material. Prepare a process account for recording the month’s transactions and a process cost sheet showing the total unit costs.