COST OF PRODUCTION REPORT: WEIGHTED AVERAGE AND FIFO COSTING METHODS At the beginning of February, the A. B. Cee Company had $26,400 (direct materials--- $10,200, direct labor$8,200; and factory overhead-$8.000) in Department l's begin- ning work-in-process inventory. The inventory consisted of 15,500 units which had 100% of their direct materials costs and 65% of their direct labor and factory overhead costs. During February, 36,000 units were started in process in Department 1. Costs incurred during the month were: direct materials, $20,292.00; direct labor, $27,266,25; factory overhead, $26,274.75. As the 48,000 units were completed, they were immediately trans- ferred to Department 2. At the end of February, 3,500 units were still in process in Depart- ment 1. The units had 100% of their direct material costs and 45% of their direct labor and factory overhead costs. No spoilage occurred during February. Required: a Prepare a cost of production report for February using the weighted average costing method. b Prepare a cost of production report for February using the fifo costing method. (Round to four decimal places.)