The following information relates to Ngweze Manufacturers CC, a close corporation that manufactures a single product and uses a process costing system. Inventory is valued on the FIFO method. The process is such that all materials are added at the beginning of the process and conversion costs are incurred evenly throughout the process. Units are inspected when the process is 80% complete and losses normally amount to 20% of the good units. Below is information pertaining to the month of February 2017 Opening work in progress Units 40% complete 7 000 Material costs R90 000 Conversion costs R45 000 Costs for February 2011 Material costs R860 000 Conversion costs R518 880 Production for February 2011 Units placed into production 43 000 Units completed and transferred 32 000 Work in progress 75% complete 7 200

Page 10 of 12 REQUIRED: 2.1 Compute the cost per equivalent unit of production. (12) 2.2 Compute the value of finished goods, work in progress and abnormal losses (in applicable). (13)