1) The following information has been extracted from the books of the Orinoco Company Limited, which operates a FIFO Process Costing system, for the month of December 2019. Opening Work in Process 8,000 units (70 % complete as to direct materials and 80% complete As to Conversion costs) Units introduced to production for the month Closing Work in Process (60% complete as to direct materials and 80% complete As to conversion costs) 31,000 Units 13,000 Units The relevant Costs for the month are: Opening Work in Process Direct Materials used for the month Conversion costs for the month $ 59,000 $ 82,500 $ 102,000 Required: a) Prepare a Production Cost Report for the month of December 2019 20 Marks 2) Tyson Industries has provided the following information: Month Maintenance Costs Machine Hours January $ 2,900 300 February $ 3,000 400 March $ 3,600 600 April $ 4,300 790 May $ 3,200 500 June $ 4,500 Required: 800 a) Using the high low method, calculate the total fixed maintenance costs and the variable maintenance cost per machine hour. 5 Marks