Problem 3 (Textbook Reference: P3-2A) - Prepare a production cost report The following data pertain to a production center of Sunbelt Company, a maker of sunscreen products: Conversion Costs 16,000 Inventory, October I Phced in production in October Inventory, October 31 Units 70,000 S Materials Costs 12,000 20,400 18,200 200,000 100,000 The October 31 inventory was 100% complete as to materials and 20% complete as to conversion costs. Required: Prepare a production cost report for the month ended October 31, using the average cost method. "A production report template has been provided on the next page