Calculator Information for Nichols Manufacturing Company for the month of May is as follows: Cost of Inventory at process, May 1 $5,010 Beginning work in process: Units, 800 Direct materials, 100% completed Conversion costs, 70% completed Units started in May, 14,000 Ending work in process inventory: Units, 1,500 Direct materials, 100% completed Conversion costs, 30% completed Costs charged to Work in Process during May: Direct materials costs, $57,400 Direct labor costs, $20,049 Factory overhead costs, $30,073 Prepare a cost of production report for the month of May, using the FIFO method. Round your cost per equivalent unit amounts to two decimal places. Round all other amounts to the nearest dollar. If an amount is zero enter answer as "O". Nichols Manufacturing Company Cost of Production Report For the Month Ended May 31 Equivalent Units UNITS Whole Units Direct Materials Conversion Units to be assigned costs: Beginning work in process, May 1 (70% completed) Units started and completed in May Ending work in process, May 31 (30% completed) Total units to be assigned costs Costs Direct Materials Conversion Total Costs COSTS Cost per equivalent unit: Total cost for May Total equivalent units Cost per equivalent unit Costs assigned to production: Inventory in process, May 1 Costs incurred in May Total costs accounted for in May Costs allocated to completed and partially completed units: Inventory in process, May 1, balance To complete inventory in process, May 1 Started and completed in May Transferred to finished goods in May Inventory in process, May 31 Total costs assigned for in May Previous Nex