2 Directions The following data reports on the July production activities of the Molding department at Hickory Company. Prepare the Cost of Production Report using the FIFO method. 3 4 Direct Materials Conversion Units Percent Complete Percent Complete 2,280 $ 20,830 357,500 Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory 2,000 100% 20% 32,500 32,000 2.500 100% 60% 188,670 546,170 $567,000 7 Beginning work in proces S 9 10 Direct materials Conversion 11 Costs added this period 12 13 Direct materials Conversion 14 Total costs to account for $18,550 15 16 17 Follow the steps in your textbook (Chapter 20) and utilize Exhibit 8