Exercise 8-50 (Static) Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, 4, 6) 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. Tl uses process costing. WIP Inventory Processing Department: August 1 Quantity (60% complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 1 Current production and costs (August) Units started Current costs Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total current cost: August WIP Inventory Processing Department (August 31) Quantity (20% complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 31 Required: 28,000 units $ 33,890 13,612 $ 47,502 75,000 units $ 82,500 53,060 $ 135,560 13,000 units ?? ?? ?? a. Complete the production cost report for August using the weighted-average method. Note: Round "Cost per equivalent unit" to 2 decimal places. Flow of units: Units to be accounted for. Beginning WIP inventory Units started this period Total units to account for Units accounted for Completed and transferred out Units in ending inventory Mixing Processing Equivalent Units Physical Units Mixing Department Processing Department 28,000 75,000 103,000 Total units accounted for 0 0 0