Question 1 Assume that the following details refer to Process Bottling for March 2023. Units of Incomplete work (Opening) (100% complete Materials, 40 % Complete in conversion costs) Units received from previous process Units Completed and transferred Units of Incomplete Work (Closing) (100% complete Materials, 70% complete in Conversion costs) Cost Details Incomplete work (opening) Cost of previous Process Direct Material Conversion Costs Costs Incurred During March Transferred from previous process Direct Material Conversion costs Units a) Prepare the process cost report (21 Marks) b) Prepare a cost statement (15 Marks) c) Prepare a cost allocation statement (14 Marks) R ANSWER THE FOLLOWING QUESTIONS USING FIFO METHOD 12 000 21 000 33 000 24 000 9000 80 175 63 150 11 340 5 685 172 650 113 400 21 000 38 250 252 825