The following data reports on the July production activities of the Molding department at Hickory Company. Prepare the Cost of Production Report using the FIFO method. Beginning work in proces Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 5 13,550 2,230 357,500 133,570 5 20,330 545,170 $557,000 Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Direct Materials Conversion Percent Percent Units Complete Complete 2,000 100% 20% 32,500 32,000 2,500 100% 50% Hickory Company Molding Department Cost of Production Report- FIFO Method For Month Ended Ju 31 UNITS Whole Units Eguivalent Units Direct Materials Conversion Units to account For: Beginning work in process Units started this period Total units to account For Units to be assigned costs: Beginning work in process Units started and completed Ending work in process Total units accounted For Costs Direct Materials Converstion Total EDSTS Cost per equivalend unit: Costs added this period + Equivalent units of production Cost per equivalent unit oF production Costs assigned to production: Beginning work in process Costs added this period Total costs accounted For by the Molding dept. Costs allocated to completed and partially completed units: Beginning work in process To complete work in process Costs oF completed July 1 work in process Started and completed in July Transferred out in July Inventory in process, July 31 Total costs accounted For