COMPREHENSIVE PROBLEM FOR PROCESS COSTING Chandler Industries has two departments. In Department 1, all materials are added at the start of production. Department 2 adds material at the 75 percent completion point; this material does not cause an increase in the number of units being processed. The conversion cost are incurred evenly all throughout the process. The following production cost data are applicable for operations for the period of the current year: UNIT DATA Department 1 Department 2 2,000 3,500 48,000 ? 3,000 5,000 Beginning units during the period Started units during the period Ending units during the period PERCENTAGE OF WORK DONE DURING THE PERIOD Beginning Inventory Ending Inventory Department 1 Department 2 45% 60% 60% 50% COST DATA Beginning WIP Inventory Direct Materials Direct Labor Overhead Transferred-in cost Total Beg. WIP Inventory Started manufacturing cost during the period Direct Materials Direct Labor Transferred-in cost Overhead Total started manufacturing cost Total cost to account for Department 1 Department 2 P 20,000 P 54,250 9,900 6,600 32,350 53,000 63,250 202,850 - 36,500 P 240,000 141,300 94,200 - 475,500 512,000 P 261,000 153,650 109,750 ? ? ? Required: Prepare the cost of production report assuming the company is using the following method FIFO Weighted Average