Selene Company manufactures electronic language translators. Analysis of beginning work in process inventory for October 1, 2021 revealed the following for 800 units:

800 UnitsPercent CompleteCost Incurred

Materials45P 6,748

Direct Labor652,018

Overhead405,710

During October, Selene started production of another 11,400 translators and incurred P 259,012 for materials, P 58,782 for direct labor and P 188,210 for overhead.On October 31, 2021, the company had 400 units in process (70% completed as to materials, 90 % completed as to direct labor, and 80% completed as to overhead)

Required:

1. Make a cost of production report for October using FIFO and weighted average methods.
2. Prepare the necessary journal entries to record the October transactions.

Instructions:

1. Round all equivalent units to whole number
2. Round all cost per equivalent units to two decimal places
3. Round all costs in the Cost Assignment Section to whole numbers.
4. No need to write the percentage of completion