5. Determine the total costs for the foil bags and the unit cost for each foil bag. 6. Determine the total conversion cost and the conversion cost per bag. 7. Determine the total equivalent cost per bag. 8. Prepare a Cost of Production report. This report should show all costs transferred into Work-in- Process and the costs transferred to Finished Goods. This process uses FIFO costing 5. Determine the total costs for the foil bags and the unit cost for each foil bag. 6. Determine the total conversion cost and the conversion cost per bag. 7. Determine the total equivalent cost per bag. 8. Prepare a Cost of Production report. This report should show all costs transferred into Work-in- Process and the costs transferred to Finished Goods. This process uses FIFO costing