Eko Processors Limited operates a chemical manufacturing plant situated in Agbara Industrial Estate, Ogun State. The company uses a process costing system to account for its single main product, 'Ekoclean', which passes through two continuous processing departments: Mixing and Refining. For the month ended 31 May 2024, the following information relates to the Mixing Department: 1. Input of Raw Materials: 10,000 litres at a total cost of ₦1,850,000. 2. Direct Labour incurred: ₦1,680,000. 3. Production Overheads absorbed: ₦1,215,000. 4. Normal process loss is estimated at 10% of total input litres. Scrapped units from normal loss are sold at ₦50 per litre. 5. During May 2024, actual output completed and transferred to the Refining Department was 7,000 litres. 6. At the end of the month, 1,500 litres remained in work-in-progress (WIP). The degree of completion for closing WIP was: - Raw Materials: 100% - Direct Labour: 60% - Production Overheads: 40% 7. The remaining units were lost during the process. All losses occur at the end of the inspection stage where units are 100% complete as to materials, labour, and overheads. 8. There was no opening work-in-progress. Required: (a) Prepare the Statement of Equivalent Production (in litres). (6 marks) (b) Prepare the Statement of Cost per Equivalent Unit and the Valuation Statement for units transferred to Refining, Closing WIP, and Abnormal Loss. (8 marks) (c) Prepare the following ledger accounts for May 2024: i. Mixing Process Account (4 marks) ii. Normal Loss Account (2 marks) iii. Abnormal Loss Account (2 marks) (d) Briefly explain THREE operational differences between Job Costing and Process Costing, citing ONE practical Nigerian business example for each method. (3 marks) (Total: 25 marks)