(c) The following information relates to Process 2 of three-stage production process: Material input from Process I Added Material Labor Overhead 5,000 Units @ Tk. 1.85 per unit Tk. 2,245 Tk. 4,320 Tk. 3,090 Actual Loss 800 Units Opening WIP 600 Units Opening WIP complete as to: Tk. Material 100% 945 Added Material 60% 180 Labor 30% 405 Overhead 30% 135 1,665 1,000 units of Closing WIP complete as to: Material from Process 1 Added Material 100% 75% 40% 20% Labor Overhead Expected loss is 10% of input materials and scrap value is Tk. 0.50. Requirement: Prepare a cost of production report using average cost method in standard format (with calculation of physical and equivalent unit, cost per equivalent unit and assignment of cost) (c) The following information relates to Process 2 of three-stage production process: Material input from Process I Added Material Labor Overhead 5,000 Units @ Tk. 1.85 per unit Tk. 2,245 Tk. 4,320 Tk. 3,090 Actual Loss 800 Units Opening WIP 600 Units Opening WIP complete as to: Tk. Material 100% 945 Added Material 60% 180 Labor 30% 405 Overhead 30% 135 1,665 1,000 units of Closing WIP complete as to: Material from Process 1 Added Material 100% 75% 40% 20% Labor Overhead Expected loss is 10% of input materials and scrap value is Tk. 0.50. Requirement: Prepare a cost of production report using average cost method in standard format (with calculation of physical and equivalent unit, cost per equivalent unit and assignment of cost)