Pharma Company produces various medicines in capsule form. At the beginning of the month of February

Pharma Company produces various medicines in capsule form. At the beginning of the month of February, it had 8,000 units that were 50% complete. These were assigned costs of $80,000. During the month, it completed 50,000 units and has 15,000 units that are 60% completed. It had production costs during the month of $850,000.

Complete all five steps of a production report using the weighted average method. Complete all five steps of a production report using the FIFO method.