7) Miller Company manufactures a product for which materials are added at the beginning of the manufacturing process. A review of the company's inventory and cost records for the most recently completed year revealed the following information: Work in process, Jan. 1 80% complete with respect to conversion costs Number of Units Materials Conversion 100,000 $100,000 $157,500 Units started into production 600,000 Costs added during the year Materials $650,000 Conversion $997,500 Units completed during the year 550,000 The company uses the weighted-average method in its process costing system. The ending inventory is 60% complete with respect to conversion costs. Required: Prepare a Production Report using Weighted Average Method. (Round to cents).