Product Cost Report-- FIFO METHOD

Gomez Manufacturing Corp. produces a dandruff shampoo in three consecutive processes. The costs of Department 1 for June 2016 were as follows:

Cost of beginning inventory		$18,240
Costs added in Department 1:
Direct Material	219,670
Direct Labor	361,300
Manufacturing Overhead	156,400	737,370

Department 1 handled the following units during June:

Units in process, June 1	2,000
Units started in Department 1	45,000
Units transferred to Department 2	46,000
Units in process, June 30	1,000

On average, the June 1 units were 40% complete. The June 30 units were 70% complete. Materials are added at the beginning of the process and conversion costs occur evenly throughout the process in Department 1. Gomez uses the FIFO METHOD for process costing.

Required:

Prepare the product cost report for Department 1 for June. (FIFO)