Q.16. Following information is available regarding process \( \mathrm{A} \) for the month of February 2023:
Production Record
Units in process as procured on \( 1^{\text {st }} \) Feb. 2023
4,000
16,000
14,000
6,000
(All material used, \( 25 \% \) complete for labour and overhead)
New units started in process
Units completed
Units in process \( 28^{\text {th }} \) Feb. 2023 (All material used, \( 331 / 3 \% \) complete for labour and overhead)
Presuming that average method of inventory is used, prepare:
Statement of equivalent production, Statement showing cost for each element, Statement of apportionment of cost, Process cost account for process A.
(C.A. PE II May 1999)