In a single-process production system, Phunky Phingers produces wool gloves. For November 2010, the company's accounting records reflected the following:

Beginning WIP Inventory (100% complete as to material;

30% complete as to direct labor; 60% complete as to overhead) .....12,000 units

Units started during the month ................90,000 units

Ending WIP Inventory (100% complete as to material;

40% complete as to direct labor; 80% complete as to overhead) ...20,000 units

a. For November, prepare a cost of production report, assuming that the company uses the weighted average method.
b. For November, prepare a cost of production report, assuming that the company uses the FIFOmethod.

November 1 Cost Component Direct material Direct labor Overhead During November $90,000 45,792 70,824 $13,020 1,908 4,636