Problem 8.20 The following information is given is respect of Process No. 3 for the month of March 2012. Opening stock 2,000 units, made up of: Direct Material -1 $12,350 ; Direct Material 11$13,200 ; - Direct Labour $17,500 ; Overheads $11,000. Transferred from Process No. 2: 20,000 units @ per unit. Transferred to Process No. 4: 17,000 units. Expenditure incurred in Process No. 3: Direct Materials $3000 Direct Labour $60,000; Overheads $60000 Scrap: 1,000 units Direct Materials 100%; Direct Labour 60%; Overheads 40%. Normal Loss 10% of production, Scrapped units realized {4 per unit. Closing Stock: 4,000 units : Degree of completion : Direct Material 80%; Direct Labour 60% and Overheads 40% Prepare Statement of Equivalent Production, Statement of Cost per unit