Fong's Technology Company manufactures a chemical product. Each product will pass through Department X which is the final process of production. Direct materials are added when the proces Inspection occurs at the 60% stage of production. Normal spoilage is 10% of all good units that pass inspection. Spoilage units are disposed of at zero net disposal value. The company adopts the first-in-first out (FIFO) method of process costing. Data for Department X in March 2019 are as follows s is 95% complete and conversion costs are added evenly during the process. Physica Transferred Direct Conversion n costs materials costs units 43,750 $232,650 $200,000$187,750 268,750 Work in process, beginning, 1 March Started during Marclh Good units completed and transferred out during March Work in process, ending 31 March Total costs added during Marclh Degree of completion of beginning work in process Degree of completion of closing work in process 243,750 35,000 S940,625 $731,250 $2,526,250 90% 80% Required a) For March 2019, show the physical units and compute the equivalent units for each of the cost category (10 marks) b) Also for March 2019, summarize total costs to account for and assign these costs to (15 marks) (i) units completed and transferred out (including normal spoilage) (ii) abnormal spoilage (iii) unit in ending working in process. c) i. What is the major advantage of using the FIFO method for purposes of planning and control? (2 marks) ii. "Costs of normal spoilage are planned costs and costs of abnorma (4 marks) spoilage are losses." Do you agree? Explain