Sagousted e r deler amounts Costing Revision: Process Costing Outpu 167,87 I WIP 5,892 Question 14 Abrormal gain Norwallow 1960 ZTE Ltd manufactures a product which passes through 2 processes before completion. Details for Process 1 during the month ended 31 March 2006 were as follows: Work in progress as at 1 March 550 units Direct materials Conversion costs Cost(s) 25,300 16,950 During the period under review, a further 9,800 units were introduced The following costs were incurred Direct materials Conversion costs 75,600 54,500 Work in progress as at 31 March: 40D units Degree of Completion% 100 - Direct materials . Conversion costs 70 At the end of the period, 9.954 units were transferred to Process 2. Materials were added at the beginning of the period. Normal loss in Process 1 was set 2% of input) All units lost were discovered halfway through the process. Spoilage was scrapped at $10 per unit. Setep Valve offset opahet water cost seta2% of ich the procese offset of A Required: Prepare for the month of March - A cost of production report for Process 1 showing Quantity schedule and Statement of Equivalent Units . Statement of Cost Statement of Valuation B Process 1 Account Note well: Show average cost per equivalent unit at 4 decimal places Valuation figures rounded off to whole numbers