Q2. A local company with diversified business is currently rated as one of the top performing company. The directors have agreed for a new product to be added and they produced chocolates. The making of chocolates involves two processes and the following information is obtained from the company. Process 1 i) Total units started 50,000 ii) Cost of materials RM200.000 iii) Cost of Labour RM 40,500 iv) Overheads is based on 50% of direct labour costs. v) Normal Loss of 5% of input is expected. vi) Completed units transferred to Process 2 is 47,500. Process 2 i) Total units transferred from Process 1 is 47,500 ii) Cost of materials RM150,000 iii) Cost of Labour RM 35,000 iv) Overheads is based on 50% of direct labour costs. v) Normal Loss of 5% input is expected. vi) Completed units transferred to Finished Goods Account is 45,125. You are required to prepare Process 1 and 2 accounts. (40 marks)