346 Problem 12 Cost Accounting icole Company employs a process costing system. A unit of product passes through three departments - Molding, Assembly, and Finishing, before it is completed. The following activity took place in the Finishing Department during May: Work in process, May 1 - 1,400 units; transferred in from the Assembly Department - 14,000; spoilage 700; completed and transferred to finished goods inventory 11,200. Direct material is added at the beginning of the processing in the Finishing Department without changing the number of units being processed. Conversion costs are added evenly throughout the process. The work in process inventory was 70% complete as to conversion costs in May 1 and 40% complete as to conversion costs on May 31. All spoilage is discovered at final inspection, which occurs immediately after the units are completed: 560 of the units spoiled were within the limit considered normal. Nicole Company employs the weighted-average costing method. The costs per equivalent unit of production in May are as follows: transferred-in costs P5.00; materials - P1.00 and conversion costs - P 3.00 Required: 1. Cost of the units completed and transferred 2. Cost charged to factory overhead control 3. Cost of the units in process, end