Directions The following data reports on the July production activities of the Molding department at Hickory Company. Prepare the Cost of Production Report usina the FIFO method. - Follow the steps in your textbook (Chapter 20 ) and utilize Exhibit 8 as a reference guide Hickory Company - Molding Department Cost of Production Report- FIFO Method For Month Ended July 31 UnTrs \begin{tabular}{|l|l|} \multirow{2}{*}{ Whole Units } & \multicolumn{2}{c|}{ Equivalent Units } \\ \cline { 3 - 3 } \cline { 3 - 3 } & Direct Materials Conversion \\ \hline \end{tabular} Units to account for: Beginning work in process Units started this period Total units to account for Units to be assigned costs: 15 Beginning work in process 16| Units started and completed 17 Ending work in process 18 Total units accounted for 19 Cost per equivalend unit: Costs added this period Equivalent units of production Cost per equivalent unit of production Costs assigned to production: Beginning work in process Costs added this period Total costs accounted for by the Molding dept. Costs allocated to completed and partially completed units: Beginning work in process To complete work in process Costs of completed July 1 work in process Started and completed in July Transferred out in July Inventory in process, July 31 Total costs accounted for