1 (Ch 1 - Ch 3) Required information The following information applies to the questions displayed below. Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 25,700 units of product to finished goods Inventory. Its 3.700 units of beginning work in process consisted of $20,500 of direct materials and $253,440 of conversion costs. It has 2.750 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month end. During the month, $520.050 of direct material costs and $2.424,960 of conversion costs were charged to production. 1. Prepare the company's process cost summary for May using the weighted average method. Total costs to account Costs of beginning work in process Costs incurred this period 273 900 2,945,010 3.218 910 Total costs to account for Total cost counted for Difference due to rounding cost/unit Unit recone Units to account for: Beginning work in process inventory - units 3.700 Units started this period Total units to account for Total units accounted for: Units completed and transferred out Required information Total units accounted for Equivalent units of production (EUP)- weighted average method Units EUP % Materials EUP- Materials % Conversion of 2 Materials Conversion Units completed and transferred out Total units Cost per equivalent unit of production Costs of beginning work in process Costs incurred this period Total costs - Equivalent units of production Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out Costs Costs EUP EUP EUP Cost per EUP Total cost Direct materials Conversion Total costs transferred out Costs of ending work in process EUP Cost per EUP Total cost Direct materials Conversion Total cost of ending work in process Total costs accounted for