1. Prepare the format of cost of production report. 2. Calculate equivalent units of production. 3. What is the treatment of normal and abnormal loss in process costing system? 4. How the timing of normal and abnormal loss is considered in a cost of production report? 5. Cost of Production Report 6. Cost of Production Report; Normal Loss 7. Cost of Production Report 8. Equivalent Units of Production 9. Costing of Units Transferred Out; Abnormal Loss 10. Cost of Production Report; Normal and Abnormal Loss 11. Cost of Production Report; Spoiled Units - Normal and Abnormal 12. Computation of Equivalent Production 1. COST OF PRODUCTION REPORT: A company's Department 2 costs for June were: Cost from Department 1 Cost added in Department 2: $16320 Materials 43,415 Labor 56,100 Factory overhead (FOH) 58,575 The quantity schedule shows 12,000 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of June were 50% complete as to materials cost and 25% complete as to conversion cost. Required: Prepare Cost of production report.