please do it in detail

BAC1624 MANAGEMENT ACCOUNTING I 10 MARCH 2021 QUESTION 1 Mariana Company processes industrial steel cables. The company uses a First-in-First-Out (FIFO) inventory system to cost its production. For the last quarter of 2020 (October to December), the company had the following production data for its Galvanising Workshop: Physical Units (ropes) 500.000 2.000.000 Percentage of Completion (%) Materials Conversion Costs 100% 95% 100% 100% Work-in-process, 01 October Completed and transferred out during Quarter 4 Work-in-Process, 31 December 300,000 100% 80% All ropes are added at the beginning of the galvanising process. Labour and overheads are typically incurred uniformly throughout the galvanising process. Available costs information are as follows: Work-in-Process, 01 October Started into production during Quarter 4 Material RM6,750,000 RM27,000,000 Conversion Cost RM10,000,000 RM35,300,000 All galvanised ropes are transferred to Stranding Workshop when completed. BAC1634 MANAGEMENT ACCOUNTING 1 10 MARCH 2021 Required: a) Determine the equivalent units of production with respect to: (1) direct materials, and (ii) conversion costs. for the last quarter of 2020. (6 marks) b) What is the total equivalent unit cost for the last quarter of 2020? (2 marks) c) Prepare a cost reconciliation schedule for the last quarter for 2020. Show ALL workings and the necessary total costs. (8 marks) d) Journalise the transfer of the completed (galvanised) ropes to the Stranding Workshop (2 marks) c) Is the First-in-First-Out (FIFO) method more superior to the weighted average (WA) method of process costing? (2 marks) [TOTAL 20 MARKSI