Problem 3 (worth 10 points) Pet Products Company uses an automated process to manu June, the company had the following activities manufacture its pet replica products. For 4,500 items, 1/4 complete with regards to conversion inning work in process nventory nits placed in production Inits completed 5,000 units 17,500 units 000 items, 3/4 complete ith regards to conversion Ending work in process nventory ND ITS ost of beginning work in rocess irect material costs, current onversion costs, current 945 Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process Required Prepare a production cost worksheet using the FIFO method od the Assumptions and and Exa Problem 3 (worth 10 points) Pet Products Company uses an automated process to manufacture its pet June, the company had the following activities replica products. For 500 items, 1/4 complete Beginning work in process regards to conversion nvente Units placed in production 15,000 units nits completed 17,500 units 000 items, 3/4 complete with regards to conversion ing work in process ventory Cost of beginning work in 5,250 $16,500 523,945 Direct material costs, current onversion costs, current Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. Required: Prepare a production cost worksheet using the FIFO method ble ur cost of used 8.000