Q2. ABC Company is a manufacturing company that produces biscuits covered with chocolates. The company has two stages; manufacturing stage where they add the biscuits at the beginning of the production. Then, they add chocolate when the production is ready by 60%. Second stage is the packaging stage where DM is added at the beginning of the process. The following is data of production and costs for both stages for Jan 2020 period: Data Beginning inventory (70%) Added units Ending Inventory (35%) Units 120,000 600,000 150,000 Biscuits $18,000 $96,000 Chocolate $30,000 $132,000 CC $8,400 64,620 Data Units DM CC Transferred $36,000 75,000 Beginning inventory (50%) Added units Ending Inventory (60%) $11,250 $91,200 $3,000 $52,875 50,000 Required: 1. Prepare the stage report for the manufacturing and Packaging stages using, a) WA, and B) FIFO 2. Journalize the required entry to transfer the completed units and prepare the ledger of the manufacturing stage and Packaging stage