Susan's Plastics, Inc., manufactures a line of office desk accessories. The company's newest and most popular product is a plastic paper holder for holding the paper up while working at the computer. Production began on February 1, 2019. Plastic is poured into molds to form the product, and the entire process takes place in the Molding Department. After the liquid plastic is poured (signifying the beginning of the process), the molds must be cooled slowly before the paper holder is separated from the mold. Statistics for 2019 are shown below.

Beginning inventory	0
Units started	77,000
Costs: Direct materials costs	$246,400
Conversion costs	$334,840
Units completed and transferred to the Packaging Department	72,500

Ending work in process inventory: All direct materials were added at the beginning of the process, and the average stage of completion of these units as to conversion costs is 80 percent.

No units were lost or spoiled during the year.

process cost report using the FIFO costing method for the Molding Department using five steps.