Bhatti Company produces plastic photo frames. Two departments, molding and finishing, are involved in the manufacturing. The molding department fills the molds with hot liquid plastic that is left to cool and then opens them. The finishing department removes the plastic frame from the mold and strips the edges of the frames of extra plastic.

The following information is available for the month of January:

Work$-$in$-$Process Inventory January $1$ January $31$

Quantity $($pounds$)$ Cost Quantity $($pounds$)$ Cost

Molding department None $$ None $$

Finishing department $5,000$ $ $25,0002,000?$

The WIP Inventory in the finishing department is estimated to be $40\%$ complete for conversion both at the beginning and end of January. Costs of production for January follow:

Costs of Production Direct Materials Conversion

Molding department $ $650,000$ $ $190,000$

Finishing department $235,690$

The molding department started $50,000$ pounds of product in January. The firm uses the FIFO method of process costing.Prepare a production cost report for the molding department. $($Round "Cost per EU$"$ answers to $2$ decimal places. Negative amounts should be indicated by minus sign.$)$

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