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Management Accounting problem Susan Company produces a product called 'N96' which required to go through two processes, Process 1 and Process 2. The following information

Management Accounting problem

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Susan Company produces a product called 'N96' which required to go through two processes, Process 1 and Process 2. The following information relates to Process 2 for the month of March 2020: Units Percent Completed Materials Conversion Work-in-process, 1 March 21,000 80% 60% Transferred om Process 1 and started in Process 2 84,000 Completed and transferred out 73,500 Work-inprocess, 31 March 31,500 30% 40% Costs for March Transferred-in 'om Process 1 ($1 Materials ($1 Conversion 1 $1 Work-in-process, 1 March 120,000 19,000 17,000 Added during the month 462,000 264,600 183,750 It is the company's policy to adopt FIFO method in its process costing system. Required: (a) Determine the equivalent units for transferred-in from Process 1, materials and conversion for March. (4 marks) (b) Determine the cost per equivalent unit for transferred-in from Process 1, materials and conversion for March. (3 marks) (c) Determine the total cost of ending work-in-process inventory and the total cost of units transferred to nished goods in March. (6 marks)

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