The Van Brocklin Company manufactures one style of long, tapered wax candle, which is used on festive occasions. Each candle requires a two-foot-long wick and one pound of a specially prepared wax. Wick and melted wax are placed in molds and allowed to harden for twenty-four hours. Upon removal from the molds, the candles are immediately dipped in a special coloring mixture that gives them a glossy lacquer finish. Dried candles are inspected, and all defective ones are pulled out. Because the coloring mixture penetrates into the wax itself, the defective candles cannot be salvaged for reuse. They are destroyed in an incinerator. Normal spoilage is regarded as 3% of the number of candles that pass inspection. Cost and production statistics for a certain week were as follows: During the week, 7800 candles were completed; 7,500 passed inspection, and the remainder were defective. At the end of the week, 550 candles were still in the molds; they were considered 60% complete. There was no beginning inventory. Prepare a cost of production report