3-16. Comprehensive Problem [LO 2, 3] The Newberry Company accumulates costs for its product using a process costing system. Direct materials are added at the beginning of the production process, and conversion occurs evenly throughout the production process. Below is information related to May. Unit Information Work in Process, May 1 (75% complete) Units started during May 40,000 90,000 Total to account for 130,000 Units completed 110,000 Units in ending WIP (45% complete) 20,000 Units accounted for 130,000 Cost Information Direct Material Conversion Total Work in Process, May 1 Cost incurred during May $43,000 87,000 $340,300 $383,300 733,080 820,080 REQUIRED a. Compute the cost per equivalent unit for material and for conversion costs for May. b. Compute the costs of units completed during May. c. Compute the cost of work in process at the end of May. d. Prepare a journal entry to record the cost of goods completed