Case #4 Rey Inc. manufactures paint at a local production facility. The company has two production departments, mixing and finishing. The company uses the weighted-average method of process costing. In July, the following data were recorded for the finishing department: Physical Transferred- Finishing Department Work-in-process, July 1* units 10,800 in Costs $49,680 materials $0 Direct Conversion Costs $49,572 Transferred-in during July 26,600 Good units completed and transferred out 21,600 Work-in-process, July 31^ 14,400 Total costs added during July $118,620 $246,840 $231,228 * Degree of completion: direct materials, 0%; conversion costs, 60% ^ Degree of completion: direct materials, 100%; conversion costs, 85% Conversion costs are added evenly during the production process. Direct materials are added when production is 80% complete. The inspection point is at the 90% stage of production. Normal spoilage is 5% of all goods that pass inspection. Spoiled units are disposed of at zero net disposal value. Required: For July, summarize the total costs to account for, compute the cost per equivalent unit for transferred-in, direct materials, and conversion costs, and assign costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work- in-process.