tion Sinclair Berhad manufactures a product in a single process. All materials are introduced at the start of the process and any losses that occur have no scrap value. The company uses the first-in-first out method of valuation. Additional Information Production overheads are absorbed at the rate of RM10 per direct labour hour. Direct labour is paid at the rate of RM12 per hour. The following information is available for the last period: Opening stock of work-in-progress 500kg RM4,150 (60% complete with respect to labour and overheads) Material introduced 8,000kg RM35,000 Direct labour RM16,560 Transfer to finished goods 7,000kg Closing stock of work-in-progress 600kg (50% complete with respect to labour and overheads) A normal loss of 1,000kg was expected. All losses are detected at the end of the process. Required (a) For the last period calculate: (i) the equivalent units and the cost per unit for each element of cost (ii) the value of the transfer to finished goods and of the closing stock of work-in-progress (b) Prepare the process account for the last period.