Your uncle has been running Ubuntu Chemicals in Durban for a number of years. His accountant has just resigned suddenly with immediate effect. This has left your uncle in a predicament, as the accountant has only partially completed the production report for the month of May. Ubuntu accounts for its solitary product using a process costing system on the weighted average basis. Partially completed production report for Ubuntu Chemicals May 2022 Physical Percentage of units completion with respect to conversion Direct materials 25 000 40% Work in progress, 1 May Units started during May 30 000 Total units to account for 55 000 35 000 ? Units completed and transferred out in May Work in progress-31 May 20 000 80% ? Total units accounted for 55 000 Costings Direct material Conversion R143 000 R474 700 R617 700 Work in progress-1 May Costs incurred during May R165 000 R2 009 000 R 2 174 000 Total costs to account for R308 000 R2 483 700 R2 791 700 Cost per equivalent unit R5.50 R49.00 R54.50 Required: Assist your uncle by using the appropriate steps within a weighted average process costing system to: 1. Calculate the equivalent number of units. 2. Calculate the Rand value of unit costs. 3. Prepare the monthly cost report, showing the analysis of total costs. Equivalent units Conversion ? ? Total