Prepare the Cost of Production report for each department, if the company uses (a) FIFO cost flow, and (b) average cost flow assumptions in all its producing departments.

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Noah Technologies, Inc. sells a single model of an auxiliary fuel tank which is manufactured in two producing departments, Fabricating and Finishing. Each fuel tank is cut from steel, shaped, and welded to its basic form in the Fabricating Department. Then the tanks are transferred to the Finishing Department, where they are coated with a sealant and painted. Data related to August operations are: Units in beginning inventory: Fabricating (100% materials, 40% labor, and 80% overhead) Finishing (40% materials, 20% labor, and 20% overhead) Fabricating Finishing 400 600 Units started in process in Fabricating Department this period 1,200 Units transferred from Fabricating to Finishing this period 1,100 1,100 Units transferred from Finishing to Finished Goods this period 1,300 Units in ending inventory: Fabricating (100% materials, 60% labor, and 90% overhead) 500 400 Finishing (100% materials, 60% labor, and 60% overhead) Cost in beginning inventory: From preceding department Materials Labor Factory overhead Cost added during the current period: Materials Labor Factory overhead 74,000 P 29,280 230 1,900 1,600 11,800 2,520 90,000 2,920 16,080 19,880 46,740 28,400