No. 1. ABC Limited manufactures a product '2X' by using the process normally R. T. for the month of May 2015, the following data is available. 30 Process R. T. Material Introduced 16,000 units Transfer to next process 14,000 units Work-in-Process 4,000 units At the beginning of the month (4/5 completed) 3,000 units At the end of the month(2/3 completed) Cost records: Work-n-Process at the beginning of the month Material Rs. 30,000 Conversion cost Rs. 29,200 Cost during the month Materials Rs. 1,20,000 Conversion cost Rs. 1,60,800 Normal spoiled units are 10% of goods finished output transferred to next process. Defects in these units are identified in their finished state. Materials for the product is put in the process at the beginning of the cycle of operation, whereas labour and other indirect cost flow evenly over the year. It has no realizable value for spoiled units. Requirement: Prepare a cost of production report using average cost method in standard format (with calculation of physical and equivalent unit, cost per equivalent unit and assignment of cost)