Great Dane Company manufactures a product that passes through two departments: Assembly and Finishing. In the Finishing Department, materials are added at the end of the process. Direct labor and Overhead costs are added throughout the process. During December, the Finishing Department received $60,000$ units from the Assembly Department. The transferred$-$in cost of the $60,000$ units was $$69,900.$

Costs added by Finishing during December included the following:

Direct materials Direct labor Overhead

$$35,200$ $$80,000$ $$120,000$

On December $1,$ the Finishing Department had $10,000$ units in inventory, $30$ percent complete with respect to Direct Labor and $60$ percent complete with respect to Overhead. On December $30,12,000$ units were in inventory, $25$ percent complete with respect to Direct Labor costs and $75$ percent with respect to Overhead. The costs associated with the $10,000$ units in beginning inventory were as follows:

Transferred in

Direct labor

Overhead

Required:

Prepare a cost$-$of$-$production report for the Finishing Department using the weighted$-$ average method.

Prepare a cost$-$of$-$production report for the Finishing Department using the FIFO method.