Cost of Production summary, Two Departments; Beginning Inventory Aero Aluminum Inc. uses a process cost system. The records for May show the following information: Production Report Rolling Converting 10,000 5,000 20,000 Received from prior department . .. . . . . . . . . .. .. 15,000 15,000 5,000 5,000 1/5 10,000 15,000 1/3 Production Costs Work in process, May 1 Costs transferred in from Rolling $50,000 5,000 5,500 3,500 . . . . . . . . $5,000 6,450 3,550 Costs incurred during the month 40,000 37,000 45,000 44,000 $147,000 Required