Question 2 The following information relates to process 3 of a three-stage production process for the month of Jamiary 2019 Opening inventory 300 units complete as follows: Materials from process 2 100% costing OMR 4,400 Further materials 90% costing OMR 1,150 Labour 80% costing OMR 540 Production overhead 80% costing OMR 810 Total OMR 6.900 During January 2019, a further 1,800 units were transferred from process 2 at a valuation of OMR 27,000 Added materials amounted to OMR 6,600 and direct labour to OMR 3,270. Production overhead is absorbed at the rate of 150% of direct labour cost. Closing inventory at 31 January 2019 amounted to 450 units complete as follows: Process 2 materials 100% Added materials 60% Labour and overhead 506 Required Prepare the process 3 accounts for January 2020 using FIFO Method (Hint: Step/Statement of Equivalent Uits, Step 2 Statement of Cost per Equivaleur Units, Step 3 Statement of Evaluation and Step 4 Process 3 Accom