Blue Company uses first-in, first-out (FIFO) process costing to determine the cost of units. They produce their finished product in two processing departments: Mixing and Finishing. The following information is available for the month of May: Mixing Department: The beginning work in process inventory was $91,770 and consisted of 2,800 units that were 80% complete as to conversion costs at the end of April. During May, an additional 13,700 units were started into production. During May, a total of 14,200 units were completed and transferred to the Finishing Department. The ending work in process inventory consisted of 2,300 units which were 70% complete as to conversion costs as of the end of May. The following costs were incurred during May: direct materials $146,590, direct labor $60,000; and factory overhead $163,905. Direct materials are added at the beginning of the process in the Mixing Department and conversion costs are incurred evenly throughout the production process. Finishing Department: The beginning work in process inventory was $144,109 and consisted of 4,700 units that were 40% complete as to conversion costs at the end of April. During May, a total of 16,400 units were completed and transferred out to Finished Goods Inventory. The ending work in process inventory consisted of 2,500 units which were 40% complete as to conversion costs as of the end of May. The following costs were incurred during May: direct materials $201,720, direct labor $90,000, and factory overhead $186,256. Direct materials are added at the end of the process in the Finishing Department and conversion costs are incurred evenly throughout the production process. BLUE COMPLI MIXING DEPARTMENT PRODUCTION REPORT MAY I. SCHEDULE OF EQUIVALENT UNITS Beg WIP Units Started Total Units to Account For Unit Completed Beginning WIP Other Units Started and Completed End WIP Total Units Accounted For Equivalent Units of Production DM CC II. COMPUTATION OF PER UNIT COSTS CURRENT EQUIV. UNIT COSTS 1 UNITS COST DM sub-total Beg WIP Total III. ASSIGNMENT OF COSTS TO PRODUCTION Cost of Goods Manufactured: Beginning Work in Process: Cost to Complete: DM Total Cost of Beginning Work in Process Cost of Other Unite: Started and Completed: CC Total Cost of Goods Maufactured Ending Work in Process: DM CC Total Ending Work in Process Total Cost Assigned Part 2: Account Titles DR CR BLUE COMPANY FINISHING DEPARTMENT PRODUCTION REPORT MAY 1. SCHEDULE OF EQUIVALENT UNITS Beg WIP Units Transfered-Is Total Units to Account For T-IN CC DM this Completed Be WP Other Unik T-in and Completed End WIP Total Units Accounted For Equivalent Units of Production I 11 COMPUTATION OF PER UNIT COSTS CURRENT EQUIY. UNIT COSTS UNITS COST T-IN DM sub-total Be WIP Total 111 T- ASSIGNMENT OF COSTS TO PRODUCTION Cost of Goods Manufactured: Beiusing Work in Process Cost to Compleqe Beginning Work in Process: CC DM Total Cost of Beginning Work in Process Cost of Other Units T-Iu and Completed Total Cost of Goods Manufactured Euding Work in Process T-IN DM Total Ending Work in Process Total Cost Assigued Part 4 Account Tides DR CR Part 5: Work in Processing Work is Process is bis 1. Prepare a production report for the Mixing Department for the month of May in the attached workpapers. 2. Prepare the general journal entry to record the transfer of units from the Mixing Department to the Finishing Department for May in the attached workpapers. 3. Prepare a production report for the Finishing Department for the month of May in the attached workpapers. 4. Prepare the general journal entry to record the transfer of units from the Finishing Department to Finished Goods Inventory for May in the attached workpapers. 5. Enter the appropriate cost data in the Work in Process T-accounts for the Mixing Department and for the Finishing Department for the month of May in the attached workpapers