The questions require us to use process costing method to find the answers. It does not relate to FIFO and AVCO method

A firm operates a process, the details of which for the period were as follows. There was no opening work-in-progress. During the period 8.250 units were received from the previous process at a value of $453, 750, labour and overheads were $350, 060 and material introduced was $24, 750. At the end of the period the closing work in-progress was 1.600 units, which were 100% complete in respect of materials and 60% complete in respect of labour and overheads. The balance of units were transferred to finished goods. a) Calculate the number of equivalent units produced. b) Calculate the cost per equivalent unit. c) Prepare the process account. A chemical producer manufactures Product XK by means of two successive processes. Process 1 and Process 2. The information provided below relates to the most recent accounting period, period 10. a) Calculate the value of the goods transferred from Process 1 to Process 2 during period 10 and the value of the closing work-in-progress left in Process 1 at the end of period 10. b) Calculate the value of the goods transferred from Process 2, to finished goods, during period 10 and the value of 1unit of production