please use the template to answer the question

FIFO METHOD Physical Unit and Equivalent Unit (step 1 & 2) WIP. Beginning Unit started into production this month Total Units to Account for Physical Unit % Completion with respect to CC Equivalent Unkt Direct Conversion Materiale Costa WIP. Beginning Units completed and transferred out WIP, Ending Total Units to Account for Calculation of Unit Cost (step 3) WIP Beginning Costs Incurred in the month Total Costs to Account for DM Total Equivalent Units Cost per Equivalent Unit (step 4) Unit Cost/Unit Total Total Analysis of Total Costs (step 5) WIP Beginning to be completed and transferred out first Direct Materials (to complete) Conversion Costs to complete) Cost of Goods Completed and Transferred out Cost Remaining (Ending Balance for the period) WIP Direct Materials WIP Conversion Costs Total Cost of WIP, ending Todosts Account for QUESTION 1 (HOMEWORK) Stabler Chemical Company has two departments - mixing and cooking. Production activity begins in the mixing department; after mixing, the units are transferred to the cooking department. From cooking, the units are transferred to finished goods. All the materials involved in mixing and conversion costs are incurred uniformly as work progresses through the mixing department. Overhead cost is applied at the rate of 150 percent of direct labor costs. The following are the cost and other data concern the operations of the mixing department in the month of May: Work in process, beginning: Units in process..... 20.000 Percent complete with respect to materials. 65% Percent complete with respect to conversion......... 30% Costs in the beginning inventory Materials cost. $8.000 Labor cost... $3,600 Overhead cost $5,400 Unit started into production during the month 180,000 Unit completed and transferred out....... 170.000 Costs added to production during the month: Materials cost $63,000 Labor cost.......... $88.000 Overhead cost applied 72 Work in process, ending Units in process 30.000 Percent complete with respect to materials.... 70% Percent complete with respect to conversion....... 40% Required: a) Prepare Stabler Chemical's production report for the month based on first-in, first-out (FIFO) method. (45 marks) b) Prepare Stabler Chemical's production report for the month based on weighted average method. (37 marks) (You may use the EXCEL spreadsheet to help do both part (a) and (b)