Exercise 8-49 (Algo) Prepare a Production Cost Report: FIFO Method (LO 8-2, 4, 5) Terminal Industries (TI) produces a product using three departments: Mixing. Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. TI uses process costing. Required: Complete the production cost report for August using FIFO. Note: Round "Cost per equivalent unit" to 2 decimal places. Cost per equivalent unit \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|l|}{ Mixing } \\ \hline \multicolumn{4}{|l|}{ Processing } \\ \hline \multicolumn{4}{|l|}{ Costs accounted for: } \\ \hline \multicolumn{4}{|c|}{ Costs assigned to units transferred out: } \\ \hline \multicolumn{4}{|l|}{ Costs from beginning WIP inventory } \\ \hline \multicolumn{4}{|c|}{ Current costs added to complete beginning WIP inventory } \\ \hline \multicolumn{4}{|l|}{ Mixing } \\ \hline \multicolumn{4}{|l|}{ Processing } \\ \hline \multicolumn{4}{|c|}{ Current costs of units started and completed: } \\ \hline \multicolumn{4}{|l|}{ Mixing } \\ \hline \multicolumn{4}{|l|}{ Processing } \\ \hline Total costs transferred out & $ & 0 & $ \\ \hline \multicolumn{4}{|l|}{ Cost of ending WIP inventory } \\ \hline Mixing & & & \\ \hline \multicolumn{4}{|l|}{ Processing } \\ \hline Total costs accounted for & 0 & 0 & $ \\ \hline \end{tabular}