\begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|l|}{ Total costs to account for: } \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline Total costs to account for: & $ & 0 & & & & & \\ \hline \multicolumn{8}{|l|}{ Total costs accounted for } \\ \hline Difference due to rounding cost/unit & $ & 0 & & & & & \\ \hline \multicolumn{8}{|l|}{ Unit reconciliation: } \\ \hline \multicolumn{8}{|l|}{ Units to account for: } \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{ Total units to account for } \\ \hline \multicolumn{8}{|l|}{ Total units accounted for: } \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{ Total units accounted for } \\ \hline \multicolumn{8}{|c|}{ Equivalent units of production (EUP)- FIFO method } \\ \hline & Units & % Materials & EUP-Materials & % Labor & EUP- Labor & % Overhead & EUP- Overhead \\ \hline & & & 0 & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{ Total units } \\ \hline Cost per equivalent unit of production & & & Materials & & Labor & & Overhead \\ \hline & & & & & & & \\ \hline Total costs & & Costs & & Costs & & Costs & \\ \hline Equivalent units of production & & EUP & 0 & EUP & 0 & EUP & 0 \\ \hline \multicolumn{3}{|c|}{ Cost per equivalent unit of production (rounded to 2 decimals) } & 0 & & 0 & & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|l|}{ Total costs accounted for: } \\ \hline \multicolumn{7}{|l|}{ Beginning Inventory Cost: } \\ \hline Cost to complete beginning inventory & EUP & Cost per EUP & Total cost & & & \\ \hline Direct materials & & & $ & & & \\ \hline \multicolumn{7}{|l|}{ Direct labor } \\ \hline \multicolumn{7}{|l|}{ Factory overhead } \\ \hline \multicolumn{7}{|c|}{ Total cost to complete beginning inventory } \\ \hline \multicolumn{7}{|c|}{ Total cost of units in beginning inventory } \\ \hline Cost of units started and completed & EUP & Cost per EUP & Total cost & & & \\ \hline Direct materials & & & $ & & & \\ \hline Direct labor & & 0.00 & & & & \\ \hline Factory overhead & 0 & 0.00 & & & & \\ \hline \multicolumn{7}{|c|}{ Total cost of units started and completed } \\ \hline \multicolumn{7}{|l|}{ Total cost of units transferred out } \\ \hline Costs of ending goods in process & EUP & Cost per EUP & Total cost & & & \\ \hline Direct materials & & 0.00 & 0 & & & \\ \hline Direct labor & & 0.00 & 0 & & & \\ \hline Factory overhead & & 0.00 & 0 & & & \\ \hline \multicolumn{7}{|c|}{ Total cost of ending goods in process } \\ \hline Total costs accounted for & & & & & & \\ \hline \end{tabular} Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Direct labor and overhead are added evenly throughout the process. The company uses monthly reporting periods for its weighted-average process cost accounting. During May, the company completed and transferred 22,200 units of product to finished goods inventory. Its 3,000 units of beginning goods in process consisted of $19,800 of direct materials, $123,300 of direct labor, and $98,640 of factory overhead. It has 2,400 units (100% complete with respect to direct materials and 80% complete with respect to direct labor and overhead) in process at month-end. After entries to record direct materials, direct labor, and overhead for May, the company's Goods in Process Inventory account follows. - Beginning goods in process consisted of 3,000 units that were 100% complete with respect to direct materials and 40% complete with respect to direct labor and overhead. - Of the 22,200 units completed, 3,000 were from beginning goods in process. The remaining 19,200 were units started and completed during May. Assume that Tamar uses the FIFO method to account for its process costing system. 1. Prepare the company's process cost summary for May using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|l|}{ Total costs to account for: } \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline Total costs to account for: & $ & 0 & & & & & \\ \hline \multicolumn{8}{|l|}{ Total costs accounted for } \\ \hline Difference due to rounding cost/unit & $ & 0 & & & & & \\ \hline \multicolumn{8}{|l|}{ Unit reconciliation: } \\ \hline \multicolumn{8}{|l|}{ Units to account for: } \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{ Total units to account for } \\ \hline \multicolumn{8}{|l|}{ Total units accounted for: } \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{ Total units accounted for } \\ \hline \multicolumn{8}{|c|}{ Equivalent units of production (EUP)- FIFO method } \\ \hline & Units & % Materials & EUP-Materials & % Labor & EUP- Labor & % Overhead & EUP- Overhead \\ \hline & & & 0 & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{ Total units } \\ \hline Cost per equivalent unit of production & & & Materials & & Labor & & Overhead \\ \hline & & & & & & & \\ \hline Total costs & & Costs & & Costs & & Costs & \\ \hline Equivalent units of production & & EUP & 0 & EUP & 0 & EUP & 0 \\ \hline \multicolumn{3}{|c|}{ Cost per equivalent unit of production (rounded to 2 decimals) } & 0 & & 0 & & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|l|}{ Total costs accounted for: } \\ \hline \multicolumn{7}{|l|}{ Beginning Inventory Cost: } \\ \hline Cost to complete beginning inventory & EUP & Cost per EUP & Total cost & & & \\ \hline Direct materials & & & $ & & & \\ \hline \multicolumn{7}{|l|}{ Direct labor } \\ \hline \multicolumn{7}{|l|}{ Factory overhead } \\ \hline \multicolumn{7}{|c|}{ Total cost to complete beginning inventory } \\ \hline \multicolumn{7}{|c|}{ Total cost of units in beginning inventory } \\ \hline Cost of units started and completed & EUP & Cost per EUP & Total cost & & & \\ \hline Direct materials & & & $ & & & \\ \hline Direct labor & & 0.00 & & & & \\ \hline Factory overhead & 0 & 0.00 & & & & \\ \hline \multicolumn{7}{|c|}{ Total cost of units started and completed } \\ \hline \multicolumn{7}{|l|}{ Total cost of units transferred out } \\ \hline Costs of ending goods in process & EUP & Cost per EUP & Total cost & & & \\ \hline Direct materials & & 0.00 & 0 & & & \\ \hline Direct labor & & 0.00 & 0 & & & \\ \hline Factory overhead & & 0.00 & 0 & & & \\ \hline \multicolumn{7}{|c|}{ Total cost of ending goods in process } \\ \hline Total costs accounted for & & & & & & \\ \hline \end{tabular} Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Direct labor and overhead are added evenly throughout the process. The company uses monthly reporting periods for its weighted-average process cost accounting. During May, the company completed and transferred 22,200 units of product to finished goods inventory. Its 3,000 units of beginning goods in process consisted of $19,800 of direct materials, $123,300 of direct labor, and $98,640 of factory overhead. It has 2,400 units (100% complete with respect to direct materials and 80% complete with respect to direct labor and overhead) in process at month-end. After entries to record direct materials, direct labor, and overhead for May, the company's Goods in Process Inventory account follows. - Beginning goods in process consisted of 3,000 units that were 100% complete with respect to direct materials and 40% complete with respect to direct labor and overhead. - Of the 22,200 units completed, 3,000 were from beginning goods in process. The remaining 19,200 were units started and completed during May. Assume that Tamar uses the FIFO method to account for its process costing system. 1. Prepare the company's process cost summary for May using the FIFO method. (Round "Cost per EUP" to 2 decimal places.)