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). Prepare the process account