Question 2: AXA is a skateboard manufacturing company. It has two main departments in its manufacturing process; cutting department and assembly department. The following production and cost data of the assembly department for the month of January 2020: Production Data in Units Work in process units, January 1 Material 100%, Conversion cost 70% Units transferred-in from cutting department. Work in process units, January 31 Material 100%, Conversion cost 30% incomplete 250,000 units 350,000 units 120,000 units Manufacturing Cost Data Work in process costs at January 1: Material Conversion Cost Transferred-in Cost Cost added during January: Materials Labor Overhead $50,000 $ 45,000 $52,000 $500,000 $90,000 $110,000 Instructions Prepare a production cost report for the Assembly Department for the month of January 2020 using process costing system.