Ultra Ceramic Products presented the following data for its operations for the month of October, 2020: Dept 1 Work in process, July t. 1(Conversion costs, 60%) 7,000 units Transferred to Dept 2 Work in process, July 31 (Conversion costs 80%) Lost in production-Normal Abnormal 20,000 units 5,000 units Dept 2 6,000 units Conversion costs 30% 20,000 units Transferred out 3,500 units Conversion costs 40% 1,000 units 1,000 units Normal 1,000 units 1,500 units Abnormal In Department 1, 100% materials are applied at the start of processing. Conversion costs are Incurred evenly throughout the process. Inspection point is done at 50% conversion costs. Work in process, July 1 Added in July: Material costs Labor costs Applied overhead costs P13,426.00 22,400.00 11,440.00 16,224.00 In Dept 2, materials are added at the end of processing at which point inspection also takes place. conversion costs are incurred uniformly throughout the process. Work in process, July 1 Added in July: Cost received from Dept. 1 Material costs Labor costs Applied overhead costs P17,334.00 50,289.00 20,500.00 10,829.00 16,796.00 Required: Cost of Production report for Dept 1 and Dept 2 for the month of July 2020.