FACULTY OF COMMERCE, MANAGEMENT AND LAW REQUIRED 2.1. 2.2. Prepare the process cost report for the cutting department using the First In, First Out (FIFO) method. (Show all your workings, and where possible, round off your final answers to two decimal places). Prepare the process cost report for the cutting department using the Weighted Average Cost (WACO) method. (Show all your workings, and where possible, round off your final answers to two decimal places). Marks Sub- Total total 17 17 17 34 2.3. Explain why the two methods gives different unit costs of finished goods and work in process. 3 34 37 2.4 Which of the two methods would you recommend to NCA and why? 3 40 40 TOTAL MARKS