During July, the following costs were incurred:

Materials (30,000 units) $24,900

Labour and overheads $20,075

At the beginning of July, there were 15,000 units of work in progress valued as follows:

Materials (100% complete) $9,000

Labour and overheads (40% complete) $1,250

At the end of July, there were 5,000 units of work-in-progress. They were 100% complete for materials and 50% complete for labour and overheads.

Using both FIFO approach and Weighted Average approach:

(a) calculate how many units were completed during July

(b) calculate the cost per unit

(c) value the finished items and the closing work-in-progress

(d) create a Process Account. (Note: assume no losses)