Premier Products Inc. has three departments and uses the process cost system of accounting. A portion of the departmental cost work sheet prepared by the cost accountant at the end of July is reproduced below. Premier Products, Inc. Department Cost Work Shoot For the Month Ended July 31, 2016 Units Units Amount Amount Unit Received in Transferred Charged to Credited to Transferred Department or on Hand Department Department Cost per 6,600 $5.00 $2.67 $2.33 $10.00 $30,000 16,000 14,000 5.400 $54,000 1,200 6,000 6.600 6,600 $60,000 $60,000 5,400 $54,000 Analysis Cutting: Started in process. Costs for month: Materials Labor.. Factory overhead. Completed and transferred to Shaping Closing inventory in process (1/2 completed). Total Shaping: Received during month from Cutting . Costs added during month: Materials Labor.. Factory overhead Completed and transferred to Finishing Closing inventory in process 1215 completed) Total Finishing: Received during month from Shaping Costs added during month Materials Labor Factory overhead. Completed and transferred to stock 0.25 1.200 6,000 1.25 1.00 $12.50 4,800 4,400 $55,000 1,000 11,000 5,400 5.400 $66,000 $66.000 4,400 $55,000 1.50 1.00 6,300 4,200 6,300 1.50 $1650 4.000 $56.000 1,200 6,000 6,600 6.600 $80.000 $60,000 5,400 $54,000 0.25 1.25 1.00 $12.50 1,200 6,000 4,800 4.400 $55,000 1,000 11,000 Closing inventory in process (1/2 completed) Total Shaping: Received during month from Cutting Costs added during month: Materials Labor. Factory overhead. Completed and transferred to Finishing Closing inventory in process (2/5 completed) Total Finishing: Received during month from Shaping Costs added during month: Materials. Labor.. Factory overhead.. Completed and transferred to stock Closing inventory in process (1/2 completed). Total 5.400 5.400 $66,000 $66,000 4.400 $55,000 1.50 1.00 1.50 6,300 4,200 6,300 $16.50 4,000 $66.000 400 5,800 $71,800 4,400 4,400 $71,800 Required: Prepare a cost of production summary for each department. (Round unit costs to three decimal places and totals to the nearest whole dollar.)