Hibiki Company manufactures a single product in two departments, Cutting and Finishing. Production starts in the Cutting Department and the completed units are transferred to the Finishing Department for further processing. Units are inspected at the 80% stage of completion in the Finishing Department. Good units are transferred to finished goods inventory when completed and spoiled units are transferred to a separate inventory account. Spoiled units are inventoried at their salvage value of $3 each, and the unrecoverable cost of spoilage, which was caused by an internal failure, should be charged to the appropriate account.

Materials are given at the start of the production process. At the end of June, 2,000 units were still in process in the Finishing Department, 100% completed as to materials and 60% completed as to conversion costs. During July, 20,000 units were transferred from the Cutting Department to the Finishing 2 Department. At the end of July, the Finishing Department still had 4,000 units in process, 100% completed as to materials and 20% completed as to conversion costs. Cost data related to July operations in the Finishing Department follow:

Beginning Inventory Added This Month

Cost Charged to the Finishing Department:

Costs from Preceding Department $6,050 $54,450

Materials 3,410 30,690

Labor 1,638 14,742

Factory overhead 2,184 19,656

Required: July Cost Production Report for Finishing Department using the weighted average method.