Calculating unit costs; units lost in productionGray Brothers Products Inc. manufactures a liquid product in onedepartment. Due to the nature of the product and the process,units are regularly lost at the beginning of production. Materialsand labor and overhead costs are added evenly throughout theprocess. The following summaries were prepared for the monthof January:Production Summary UnitsStarted in process . . . .............................................. 10,000Finished and transferred to the stockroom . . . .................... 8,000In process, end of the month . . ................................... 1,000Stage of completion. .............................................. 1/2Lost in process . . .................................................. 1,000Cost SummaryMaterials. .......................................................... $132,000Labor . . . . .......................................................... 33,000Factory overhead.................................................. 20,625Calculate the unit cost for materials, labor, and factory overheadfor January and show the costs of units transferred to finishedgoods and of the ending work in process inventory.