Question Two Pass-Well Company Limited produces a product that passes through two processes, Process 1 and Process 2. Details of activities for the month of December, 2020 is as follows Process 1 Process 2 Material introduced (4,000 units) @GHC200.00 Material added GHC25,000.00 labour Costs (@GHC 400 per hour) 200hrs 600hs Output in units 3,500units 3,150 units Scrap value of nomal loss GHC20 per unit GHC40 per unit Note: i Overhead is absorbed at 80% of labour costs. ii. Nomal loss is estimated at 10% for both process, iii. No opening and dosing stocks a You are required to prepare the relevant accounts (12 marks) h You are required to prepare the relevant Accounts With practical example, differentiate between cost assignment and cost apportionmart, product cost and period costs; direct cost and indirect cost (8 marks) TOTAL: 20 MARKS