Production Cost Report Empire Aviation owns the patent to manufacture the most agile starship in the galaxy; the Tie Fighter. The company uses a process costing system that includes two departments; Assembly and Quality Control. The assembly department of Empire Aviation has the following production and manufacturing cost data for January 2022. There were no unfinished units as of December 31, 2021. Production: 500 units finished and transferred out; 200 units started that are 100% complete as to materials and 30% complete as to conversion costs. Manufacturing costs: Materials $900,000; labor $600,000; overhead $200,000. Instructions: 1. Using the information above, prepare a Production Cost Report for January. Peach color cells require data entry, Yellow color cells require formulas. 2. Answer the questions at the end of the report. Production Cost Report For the mouth end Equivalent Units Physical Units Quantities Units to be accounted for Work in process March 1 purchase Total units 0 700 700 Units accounted for Transfreed out Work in process March 31 Total units 500 200 700 500 200 700 500 60 560 Conversio n Costs Materials Total Costs Unit costs Total costs Equvialent Unit costs (a) = (b) $900,000 700 560 Costs to be accounted for Work in progress march 1 $0 Total costs Cost Reconciliation Schedule Cost accounted for Work in Process, March 31 Supplemental Questions: 1) Prepare the journal entry necessary to transfer completed units to the Quality Control Department. 2) To establish and selling price for its tie fighters, Empire Aviation use a markup on assembly department cost of 25%. What is the selling price per tie fighter for those 3) Calculate 1) gross profit per unit, and 2) the gross profit % 4) The Rebellion puts an order in to Empire Aviation for 800 Tie Fighters. The Empire, believing the Rebellion to be no threat to their supreme power, decides to accept the order. What is the total gross profit on this sale