(a) What is meant by the term equivalent production?

(b) At Earith Industries at the beginning of April there were no partially finished goods on hand. During the month, 6,000 completed units were produced, together with 800 units partially completed. Details of the partially finished items were:

\begin{tabular}{lcc}

& Total cost $(£)$ & Percentage completed \\

Materials & 12,540 & 75 \\

Labour & 8,476 & 65 \\

Overheads & 7,084 & 55

\end{tabular}

Calculate:

(i) the total equivalent production,

(ii) the cost per complete unit,

(iii) the total value of work in progress.