Simon company produces brick. The products go through 2 processing departments as Molding and Firing Department, all materials are added at the start of Molding Department. Data relating to the activities in the Molding Department for May as follows: Production data: Work in process, May 1st: 10.000 units with percentage complete of materials is 100% and 30% of conversion. Units started into product: 170.000 Work in process, May 31st: 20.000 units with percentage complete of materials is 100% and 40% of conversion. - Cost data: Work in process inventory, July 1: Materials cost: $8,500; Conversion cost: $4,900 Cost added during the month: Materials cost: $139,400; Conversion cost: $244,200 Required: Prepare a production report for Molding Department in May using FIFO method?