Question #2 Nitro Limited manufactures a product by processing raw material through two processes. The output of Process Y is passed to Process 2 where further material is added to the mix. You have been provided with the following information, which relates to Process for May of 2019: Opening work-in-process: 7,800 units at a value of S208,455 Transfer of materials from Process Y: $113,100 100% complete Added materials: $ 38,259 90% complete Conversion costs: $ 57,096 60% $208.455 Costs incurred during May 2005: Transfer of materials from Process Y: S343.650 Added materials: $128.511 Conversion cost: $294.264 $766,425 During May 2005, 27,000 units were transferred to finished stock. Closing work-in-process: 4,500 units were in process at 31 May 2019 of which materials transferred from process Y was 100% complete, added materials 80% complete, and the conversion cost 40% complete. Required: Using the first-in, first-out (FIFO) method of pricing for valuing opening work-in process, calculate the equivalent cost per unit for each element of cost. b) Prepare the process Z account for May 2019