Equivalent Units and Product Cost Report-FIFO Method The following data (and annotations) for March 2016 are for the work in process account of the first of Olympus Company's four departments used in manufacturing its only product. \begin{tabular}{|l|r|} \hline \multicolumn{3}{|c|}{ Work in Process-Department 1} \\ \hline Beginning balance (3,000 units, 40% complete) & $81,900 \\ \hline Transferred to department 2 (23,000 units) & (a) \\ \hline Direct material (24,000 units) & 432,000 \\ \hline Direct labor & 319,200 \\ \hline Manufacturing overhead & 136,800 \\ \hline Ending balance [ (b) units, 25\% complete] & (c) \\ \hline & \\ \hline \end{tabular} appropriate