Question 1 Prepare the cost the reconciliation statement for the question below: C Ltd manufactures a range of products and the data below refer to one product which goes through one process only. The company operates a 13 four-weekly reporting system for process and products costs and the data given beiow relate to Period 10. There was no opening W]? stock. 5,011 units of materials input at 2.94 per unit entered the process. 13' Further direct materials added 13,830 Direct 1Irirages incurred 6,555 Production overhead E470 Normal loss is 3% of input. Closing WIP was 300 units but these were incomplete, having reached the following percentages of completion for each of the elements of cost listed: '36 Direct materials added 75 Direct wages 50 Production overhead 25 270 units were scrapped after a quality control check when the units were at the following degrees of completion. % Direct materials added 66% Direct wages 331'; Production overhead 1626 Units mapped. regardless of thedegreeofmpletion, are sold fut-1 each and it is company policy to credit the process account with the scrap value of normal loss units