Q1. During January the following costs were incurred in a process: Materials (1,000 units) $5,000 Labour $2,760 Overheads $3,440 During the month, 800 units were finished and transferred to the next process. The remaining 200 units were WIP and were complete as follows: Materials Labour Overheads (a) calculate the cost per unit; (b) 100% 60% 30% value the finished output and the WIP; (c) prepare Process Account.

During January the following costs were incurred in a process: During the month, 800 units were finished and transferred to the next process. The remaining 200 units were WIP and were complete as follows: (a) calculate the cost per unit; (b) value the finished output and the WIP; (c) prepare Process Account