The Laramie Factory produces expensive boots. It has two departments, tanning and finishing departments, that process all the items. During September, the beginning work in process in the tanning department was 40% complete as to conversion and 100% complete as to direct materials. The beginning inventory included $6,000 for materials and $18,000 for conversion costs. Ending work-in-process inventory in the tanning department was 40% complete. Direct materials are added at the beginning of the process. Beginning work in process in the finishing department was 60% complete as to conversion. Beginning inventories included $8,000 for transferred-in costs and $12,000 for conversion costs. Ending inventory was 40% complete. Additional information about the two departments follows: Tanning Finishing Beginning work-in-process units 5,000 5,000 Units started this period 14,000 Units transferred out this period 15,000 18,000 Ending work-in-process units 2,000 Material costs added Conversion costs Transferred-out cost $18,000 $32,000 $48,000 $19,750 Required: Complete the production cost worksheet below using FIFO costing for the finishing department Production Cost Worksheet Finishing Department FIFO Method Flow of production Physical Units Trans-In Conversion ork in process, beginning ansferred in during period o account for Completed and Transferred out During current period From Beg. WIP Start and Complete Work in process, ending Accounted for work done in current only Costs Totals Trans-In Conversion Work in process, beginning Costs added during period Work in process, ending Accounted for work done in current only Costs Totals Trans-In Conversion Work in process, beginning Costs added during period Total costs to account for Costs added in current Divided by equivalent units Equivalent-unit costs Assignment of costs Completed and transferred out WIP, beg Costs added to beg. WIP in current I Total from beg. Started and completed Total costs of comp. & transf. out Work in process, ending Total costs accounted for