3.) In February, one of the processing departments at Encinias Corporation had beginning work in process inventory of $27,000 and ending work in process inventory of $21,000. During the month, $316,000 of costs were added to production and the cost of units transferred out from the department was $322,000. The company uses the FIFO method in its process costing system. Required: Construct a cost reconciliation report for the department for the month of February