Help Needed Please

Presidential Corporation is a medium sized manufacturing company founded in 2012 to supply the Southern Caribbean with locally produced options. The Senior Accountant is preparing for a meeting with the executive leadership and has asked all management personnel to prepare reports and schedules based on their department and operational functions. The objective is to determine operational deficiencies and how they can reduce cost to meet customers' budget, while making a profit. All questions are related to Presidential and their operational needs for their multiple products. Question 1 Presidential uses a process cost system and the FIFO cost flow assumption. Production begins in the Crafting Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On May 1, the beginning work in process inventory consisted of 12,000 units, which were 40% complete and had a cost of $86,000. Required: Prepare a Production Report for Presidential, in good form, which should include: i. A reconciliation of the physical flow of units. ii. The equivalent units for the period. iii. The cost per equivalent unit. iv. Assignment of costs to beginning work in process, units started and completed and ending work in process.