Q.2. Maryam Manufacturing company uses process costing system. The cost incurred in department 2 during the month of October 2019 were, Details Amount $ Direct Material Cost 39.600 Direct Labor Cost 237,600 Factory overheads 158,400 The quantity schedule shows that 50,000 units were received from department 1 at a unit cost of $ 9. During the month 30,000 units were completed and transferred to next department. 5000 units were completed but in hand, 5000 units were lost during processing. The remaining units were in process at the end of the month. The stage of the units was as follows. 50% of the units were 50% complete 30% of the units were 60% complete 20% of the units were 40% complete Required: Prepare a cost of production report for 2nd department for the month of October 2019