AXA is a skateboard manufacturing company. It has two main departments in its manufacturing process, cutting department and assembly department. The following production and cost data of the assembly department for the month of January 2020: Production Data in Units Work in process units, January 1 250,000 units Material 100%, Conversion cost 70% Units transferred-in from cutting department. 350,000 units Work in process units, January 31 120,000 units Material 100%, Conversion cost 30% incomplete Manufacturing Cost Data Work in process costs at January 1: Material $ 50,000 Conversion Cost $ 45,000 Transferred-in Cost $52,000 Cost added during January: Materials $500,000 Labor $ 90,000 Overhead $110,000 Instructions Prepare a production cost report for the Assembly Department for the month of January 2020 using process costing system