Panasonic Corporation This month, the beginning inventory in the first processing department consisted of 1,500 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs P48,000 60% Labor costs P391000 509% Applied factor},r overhead P26,000 50% A total of 8,500 units were started and 9,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs.................... P101.B00 Labor costs Phi-.000 Applied factor},r overhead 68,000 The ending inventory was 70% complete with respect to materials and 50% complete with respect to labor and factory overhead costs. Prepare a cost of production report using F|F0 and weighted-average method with corresponding journal entries