2. Prepare the production report for the blending process. Physical Units Transferred-in Direct Costs Materials $8,000 Conversion Costs $24,800 Beginning WIP (a) Started during 750,000 month Completed during March Costs added in March Ending Inventory (b) 40,000 s $147,600 554,200 30,000 a. Degree of completion: 100% complete for DM and 80% complete for CC. b. Degree of completion: 60% complete for DM and 40% complete for CC. 1. Prepare the journal entries that record the costs of the units transferred-out for both FIFO and weighted average. Date Account Titles and Explanation Ref. Debit Credit