PROCESS COSTING The department production report of Isla Company for August 2022 summarized below: Costs allocated to the departments are presented below: Required: 1. Compute equivalent units of production. 2. Prepare a cost of production report for each department. (Hint: Use all decimal places when computing but write up to two decimal places only) 3. Prepare journal entries to record the allocation of costs to production. 4. Prepare journal entries to record the transfer of goods from the Assembly Department to the Finishing Department. 5. Prepare journal entries to record the completion of goods and the transfer to finished goods