Bell Computers, Ltd., located in Liverpool, England, assembles a standardized personal computer from parts it purchases from various suppliers. The production process consists of several steps, starting with assembly of the mother circuit board, which contains the central processing unit. This assembly takes place in the CPU Assembly Department. The company recently hired a new accountant who prepared the following report for the department for May using the weighted-average method: Units to be accounted for: Work in process, May 1: materials 90% complete; conversion 80% complete 5,000 Started into production 29,000 Total units 34,000 Units accounted for as follows: Transferred to next department 30,000 Work in process, May 31: materials 75% complete; conversion 50% complete 4,000 Total units 34,000 Cost Reconciliation Cost to be accounted for: Work in process, May 1 13,400 Cost added in the department 87,800 Total cost to be accounted for 101,200 Cost accounted for as follows: Work in process, May 31 8,200 Transferred to next department 93,000 Total cost accounted for 101,200 The companys management would like some additional information about Mays operation in the CPU Assembly Department. (The currency in England is the pound, which is denoted by the symbol .) Required: 1. How many units were started and completed during May? 2. What were the equivalent units for May for materials and conversion costs? 3. What were the costs per equivalent unit for May? The following additional data are available concerning the departments costs: (Round your answers to 2 decimal places. Omit the "" sign in your response) Materials Conversion Total Work in process, May 1 9,000 4,400 13,400 Costs added during May 57,000 30,800 87,800 4. Calculate the material cost and the conversion cost of the ending work in process. (Omit the "" sign in your response.) Materials Conversion Total Ending work in process inventory: Equivalent units of production Cost per equivalent unit Cost of ending work in process inventory 5. The new manager of the CPU Assembly Department was asked to estimate the incremental cost of processing an additional 1,000 units through the department. He took the unit cost for an equivalent whole unit you computed in (3) above and multiplied this figure by 1,000. Will this method yield a valid estimate of incremental cost? Yes No