Chewbacca Lemonade Inc. (CLI) produces bottled lemonades. You, the accountant for CLI, are now preparing the costing information for the Month of July. In CLIs manufacturing process, direct materials are blended at the beginning of the process. No materials are lost in manufacturing. Direct labor and overhead costs are incurred uniformly throughout the blending process. On June 30, 6,200 units were still in-process. All direct materials had been added, but the units were only 60 percent complete in regard to conversion costs. Direct materials costs of $20,150 and conversion costs of $21,390 were attached to the beginning inventory. During July, 57,500 kilograms of lemon were used at a cost of $189,750. Direct labor charges were $120,488, and overhead costs applied during July were $200,000. The ending work in process inventory was 5,000 kilograms. All direct materials have been added to those units, 40% of the beginning WIP items are completed in this period and 45 percent of the conversion costs have been assigned and completed on the ending inventory. Output from the Blending Department is transferred to the Packaging Department.

Required:

1. Prepare a process cost report using the FIFO costing method for the Blending Department for July.

2. Prepare a process cost report using the weighted-average costing method for the Blending Department for July.