Stuck! Please help with parts A and B. Thank you!

In its Department R, Recyclers, Inc., processes donated scrap cloth into towels for sale in local thrift shops. It sells the products at cost. The direct materials costs are zero, but the operation requires the use of direct labor and overhead. The company uses a process costing system and tracks the processing volume and costs incurred in each period. At the start of the current period, 250 towels were in process and were 60 percent complete. The costs incurred were $184.

During the month, costs of $21,000 were incurred, 3,500 towels were started, and 125 towels were still in process at the end of the month. At the end of the month, the towels were 20 percent complete.

Required:

a. Prepare a production cost report: the company uses FIFO process costing.

b. Show the flow of costs through T-accounts. Assume that current period conversion costs are credited to various payables.

Complete this question by entering your answers in the tabs below.

• Required A
• Required B

Prepare a production cost report; the company uses FIFO process costing. (Round "Cost per equivalent unit" to 2 decimal places.)

RECYCLERS, INC.
Production Cost ReportFIFO
	Physical Units	Total Costs	Conversion Costs
Flow of Production Units
Units to be accounted for:
Beginning WIP inventory	250
Units started this period	3,500
Total units to be accounted for	3,750
Units accounted for:
Units completed and transferred out:
From beginning inventory	250		100
Started and completed currently
Units in ending WIP inventory	125		25
Total units accounted for	375		125
Costs to be accounted for:
Costs in beginning WIP inventory		$184	$184
Current period costs
Total costs to be accounted for		$184	$184
Cost per equivalent unit:
Conversion costs			$600.00
Costs accounted for:
Costs assigned to units transferred out:
Costs from beginning inventory
Current costs added to complete beginning WIP inventory:
Conversion costs
Total costs from beginning inventory		$0
Current costs of units started and completed:
Conversion costs
Total costs of units started and completed		$0
Total costs of units transferred out		$0
Costs assigned to ending WIP inventory:
Conversion costs
Total ending WIP inventory		$0
Total costs accounted for		$0	$0

Required A Required B Show the flow of costs through T-accounts. Assume that current period conversion costs are credited to various payables. Work in Process Various Payables Beginning inventory Beg bal. This period's costs: End.bal Ending inventory Finished Goods Inventory Beg.bal. End.bal.