Comprehensive Problem A. Peter Senen Corporation, has two departments in the operations, Cutting and Finishing Department. The inventories, cost and produc- tion data for the month of August 2021 are as follows: Cutting Department Finishing Department Quantity In process, beginning 6,000 5,000 Work to be done 1/3 2/5 Started in process Transferred Out In process, end Stage of completion 44,000 40,000 37,000 ? ? 3/5 7/8 Cost In process, beginning P5,200 P10,685 Added this month Materials 19,800 10,685 Labor 14,200 27,470 Factory Overhead 2,600 18, 450 Conversion costs are applied evenly in all departments. Cutting Department- all materials are applied at the start of the process while the Finishing Department are applied as follows: 30% at the start of the process 40% when process is completed 30% at the end of the process. Required: 1.Prepare Cost of Production report for the two departments us- ing FIFO Method. 1. Determine the Equivalent units of production (EUP) for the two departments. 2. Determine the total cost of the completed and transferred units for the two departments. 3. Determine the total cost of the work in process at the end for the two departments.