Birmingham Ltd makes childrens hats in a single processing department. Direct materials are added at the beginning of production and conversion costs are added evenly throughout the production process. The company uses the weighted-average method of process costing. The following information for May 2021 is available.

		Percent Complete
	Physical units	Materials	Conversion
Work in process, May 1	12,000	100%	80%
Units started during May	48,000
Units completed and transferred out during May	55,000
Work in process, May 31	5,000	100%	30%
	Total	Direct Materials	Conversion
Work in process, May 1		$5,760	$14,825
Costs incurred during May		$25,440	$58,625

Required (show your working in a tabular format):
Using weighted-average process costing, complete the following requirements:
(a)	Determine the equivalent units for May.	(6 marks)
(b)	Compute the costs per equivalent unit.	(6 marks)
(c)	Compute the cost of goods completed and transferred out during May	(4 marks)
(d)	Compute the cost remaining in the work in process inventory on May 31.	(6 marks)
(e)	Prepare a journal entry to record the transfer of the cost of goods completed and transferred out.	(2 marks)