Process Costing in Chemical Industry at BASF SE

Requirements:

1. Implement process costing to analyze production costs for BASF SE's chemical products, including ethylene, polypropylene, and PVC.

Product	Direct Materials ($)	Direct Labor ($)	Factory Overhead ($)
Ethylene	0.80 per unit	0.45 per unit	0.35 per unit
Polypropylene	0.75 per unit	0.40 per unit	0.30 per unit
PVC	0.85 per unit	0.50 per unit	0.40 per unit

2. Calculate the total manufacturing costs for each product line.
3. Determine the cost per unit using FIFO method for inventory valuation.
4. Recommend cost-saving measures to improve production efficiency and profitability.