You are able to obtain only limited data from Steele Company before having to prepare cost sections of the production report. The ending balance in Work in Process for the previous month shows 500 units having three-fifths of their material at a cost of $324 and one-fifth of their conversion costs, which cost $68. After calculating material equivalent units of 3,800, management is glad to find that current material unit cost has decreased

$0.02. But management is not pleased with the $0.05 increase in current unit conversion cost with conversion cost equivalent units of 3,200. A total of 3,100 units were transferred to the next department.

Required:

Prepare the costs to account for and the costs accounted for sections of a production report using FIFO costing.