)PC Manufacturing Company operates a process costing system and the following information relates to process A for the month of March:

Opening work in process of 1000 units 40% complete, consisting of £17 400 for direct materials and £10,000 for conversion costs. Production completed for March was 8200 units with materials added for the month of £162 600 and conversion costs in the month of £173 920. Closing work in process was 800 units which was 20% complete.

There are no losses in the process. All materials are introduced at the start of the process and conversion costs are incurred uniformly throughout the process. Process A is the initial process and the completed product is then transferred to process B.

You are required:

(a) To prepare a schedule of equivalent production and cost per unit and the process account for the month of March.

(b) Assuming that the company operates a standard cost system using the following standards per finished unit:

Direct materials £20

Conversion cost £23