Question 3: Process costing FIFO Production cost report: Manufacturer The following data relate to the coating department of Ronald Plastics Ltd for July. Unit data Work in process, 1 July (in units) ? Units started during July ? Total units to account for ? Units completed and transferred out during July 70000 Work in process, 31 July (in units) 50000 Total equivalent units: direct material ? Total equivalent units: conversion ? New equivalent units accomplished in July: direct material 80000 New equivalent units accomplished in July: conversion ? Cost data Work in process, 1 July: direct material $608 000 Work in process, 1 July: conversion ? Costs incurred during July: direct material 1224 000 Costs incurred during July: conversion ? Work in process, 1 July: total cost ? Total costs incurred during July 2 986 800 Total costs to account for 3 866 800 Cost per equivalent unit: direct material ? Cost per equivalent unit: conversion ? Total cost per equivalent unit ? Costs of good completed and transferred out during July ? Cost remaining in ending work in process inventory: Direct material ? Conversion ? Total cost of 31 July work in process ? Additional information: Direct material is added at the beginning of the production process, and conversion occurs uniformly throughout the process. Ronald Plastics uses FIFO process costing. 1 July work in process was 30 per cent complete as to conversion. 31 July work in process was 40 per cent complete as to conversion Required 1. Calculate the missing amounts. 2. Prepare the July production report for the coating department