Question 7 Pharma Company produces various medicines in capsule form. At the beginning of the month of March, it had 6,000 units that were 50% complete. These were assigned costs of $150,000. During the month, it completed 60,000 units and has 15,000 units that are 70% completed. It had production costs during the month of $600,000.

Complete all five steps of a production report using the weighted average method.

Complete all five steps of a production report using the FIFO method.