Luster Company uses process costing system.

Operating data for the first processing department for the month of June appear below:

Units

Beginning work in process inventory .............. 13,000

Started into production during June ................ 98,000

Ending work in process inventory ................... 11,000

Beginning work in process is 60% uncompleted in Materials and 40% complete to Conversion Cost. While ending work in process is 50% complete to Materials and 70% to conversion cost. According to the company's records, the Material cost and conversion cost in beginning work in process inventory was $58,900 and $39,364 respectively. Additional materials cost and conversion costs of $232,035 and $721,035 respectively were incurred in the department during the month.

Prepare Production Cost Report using FIFO and Average.