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Chapter 6 Cost Accounting I Process Costing Problem i (60 points0 Crosson Corporation Crosson Corporation has the following information available for June, 2015 for the Forming Department, which is the first department in the production process: Beginning Work in Process Inventory 12,000 units (25% complete as to conversion). 160,000 units Started Ending Work in Process Inventory 35,000 units (20% complete as to conversion) Beginning Work in Process Inventory Costs: 3,500 Material. 2,550 Conversion Current Period Costs: 38,000 Material 120,750 Conversion All material is added at the start of production and all products completed are transferred out INSTRUCTIONS: l. Prepare a cost of production report, in good form. for the month of June 2015 using the FIFO method of process costing. Round the cost per equivalent unit for all columns to 5 decimal places if needed. (30 points) 2. Prepare a cost of production report. in good form, for the month of June 2015 using the Weighted Average method of process costing. (30 points)