Exercise 4-8 (Algo) Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted- Average Method [LO4-2, L04-3, L04-4) Hellx Corporation uses the weighted average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Percent complete Units Material Conversion Work in process inventory, May 1 63,000 1000 500 Work in process inventory, May 31 43,000 301 Materials cost in work in process inventory, May 1 $ 51,800 Conversion cost in work in process inventory, May 1 $14.700 Units started into production 247.200 Units transtorted to the next production department 267,200 Materials cost added during May $87.790 Conversion cost added during Hay $212,181 1001 Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May 4 Compute the first production department's cost of the units transferred to the next production department for materials, conversion and in total for May Calculate the first production department's equivalent units of production for materials and conversion for May. Materials Conversion Equivalent units of production Compute the first production department's cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Cost of ending work in process inventory Total Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Cost of units completed and transferred out Total