3) (30 points) Great Computer Company operates HHS assembly department where they assemble the hard drive, hybrid cooling fan, and speakers. This process is the third of four processes at its production facility. Direct materials and conversion costs are added evenly during this process. At the beginning of March, the company had 200 partially assembled laptops (i.e., 200 laptops could not be finished during February at HHS assembly department. These partially assembled laptops' degree of completions with respect to direct material, conversion and transferred in costs are 80 %, % 40, and 60% respectively. Direct material, conversion, and transferred in costs that were paid until March 1 are $ 40,000, $ 55,000, and $ 30,000. Great Computer Company starts working on 300 laptops (that have recently arrived from the second process). During March 220 laptops are completed and transferred to the next process. Normally, spoiled laptops are 20% of the finished output of good laptops. Partially 180 assembled laptops that could not be finished during March are complete 60 %, 80%, and 40 % with respect to direct materials, conversion, and transferred in costs, respectively. Direct material, conversion, and transferred in costs that are realized during March are $ 134,000, $ 96,000, and $ 34,000 respectively. Apply 5 steps of process costing when FIFO is used. Write each step clearly. If necessary, explain your calculations and write your assumptions