Scribners Corporation produces fine papers in three production departmentsPulping, Drying, and Finishing. In the Pulping

Department, raw materials such as wood fiber and rag cotton are mechanically and chemically treated to separate their fibers. The

result is a thick slurry of fibers. In the Drying Department, the wet fibers transferred from the Pulping Department are laid down on

porous webs, pressed to remove excess liquid, and dried in ovens. In the Finishing Department, the dried paper is coated, cut, and

spooled onto reels. The company uses the weighted-average method in its process costing system. Data for March for the Drying

Department follow:

Percent Completed

Units Pulping Conversion

Work in process inventory, March 1 5,000 100% 20%

Work in process inventory, March 31 8,000 100% 25%

Pulping cost in work in process inventory, March 1 $ 4,800

Conversion cost in work in process inventory, March 1 $ 500

Units transferred to the next production department 157,000

Pulping cost added during March $ 102,450

Conversion cost added during March $ 31,300

No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping

Department. Wet fiber is processed in the Drying Department in batches; each unit in the above table is a batch and one batch of wet

fibers produces a set amount of dried paper that is passed on to the Finishing Department.

The question is: 5. Prepare a cost reconciliation report for the Drying Department for March.( Round your intermediate calulcations to 2 decimal places) If you could please clarify all of your calculations as I am kinda lost on this problem. Thanks!