A business entity that uses process costing has the following data in respect of "Process Three", the final process in the manufacture of its single product, for the month of October 2010: Units Costs $ Opening Work-in-process 700 21,630 Transferred from Process Two 10,000 153,500 Labor Costs incurred 110,880 Production overhead applied 91,800 Actual loss in process 800 Transferred to "Finished Goods Inventory" 8,900 ? Defective units are only discovered after being fully processed and can be sold as scrap for $3 per unit. There is a normal process loss of 5% of the units transferred from "Process Two". Incomplete units were at the following stage of completion: Opening WIP Closing WIP % % Transfer from Process Two 100 100 Labor 80 60 Production Overhead 60 40 Required, in respect of "Process Three" for October 2010: (Use FIFO Method) a. A schedule showing the equivalent units produced, the costs incurred and the cost per equivalent unit. b. The Account for Process Three. c. The Abnormal Loss Account