The following production data were taken from the books of Greyhound Manufacturing Co., which manufacturing its product in three (3) successive department's namely, cutting, assembly and finishing.

Units:

Cutting AssemblyFinishing

_{Work in process, July 21}2,0005,0007,000

Stage of completion 1/4 2/5 1/7

_{Finished and transferred to next dept.15,000}15,00020,000

_{Work in process, July 31}5,0005,0002,000

Stage of completion1/2 2/51/2

Costs:

_{Work in process, July 1}P5,000P67,500P118,500

Cost Added in July:

MaterialsP85,000P7,500P40,000

Labor51,00045,00060,000

Overhead34,00022,50020,000

Required: Cost of Production Report for Finishing Department.