2nd Department: WIP. beg (40% complete) 20,000 Received previous department 50,000 WIP, end (70% complete) 8,000 Lost units 2,000 Cost data: WIP, beg Transferred-in 100,000 Materials 120,000 Conversion Costs 163,600 Costs added this period: Transferred-in 250,000 Materials 672,000 Conversion costs 715,200 Other Information: a. 50% of materials are added at the start of the process. b. The other 50% of the material added at the end of the process. c. Conversion costs are applied evenly throughout the process. d. Lost units are considered as Normal and continuous. Requirements: 1. Prepare a cost of production report using Average method. 2. Prepare a cost of production report using FIFO.