Refer to the information in Exercise 20-14. Prepare a production cost report using the FIFO method.

Data From Exercise 20-14

The following data reports on the July production activities of the Molding department at Ash Company. Prepare the Molding department’s production cost report using the weighted average method.

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Beginning work in process Direct Materials Conversion Direct materials. $ 18,550 Units Percent Complete Percent Complete Conversion . 2,280 $ 20,830 Beginning work in process inventory. 2,000 100% 20% Costs added this period Units started this period.. 32,500 Direct materials 357,500 Completed and transferred out. 32,000 Conversion... 188,670 546,170 Ending work in process inventory...... 2,500 100% 60% Total costs to account for.. $567,000