The records of Fremont Corporation's initial and unaudited accounts show the following ending inventory balances, which must be adjusted to actual costs. Work-in-process inventory Finished goods inventory Units 145,000 20,000 Unaudited Costs $799,927 345,110 As the auditor, you have learned the following information. Ending work-in-process inventory is 40 percent complete with respect to conversion costs. Materials are added at the beginning of the manufacturing process, and overhead is applied at the rate of 80 percent of the direct labor costs. There was no finished goods inventory at the start of the period. The following additional information is also available. Units 79,000 450,000 Costs Direct Materials $ 453,100 Direct Labor $ 655,000 Beginning inventory (80% complete as to labor) Units started Current costs Units completed and transferred to finished goods inventory 1,610,000 2,218,000 384,000 Required: a. Prepare a production cost report for Fremont using the weighted average method. (Hint: You will need to calculate equivalent units for three categories: materials, labor, and overhead.) (Round "Cost per equivalent unit" to 2 decimal places.) FREMONT CORPORATION Production Cost Report-Weighted-Average Flow of Production Units Physical Units Units to be accounted for: Beginning WIP inventory Units started this period Total units to be accounted for