Fedora, Inc, uses a weighted-average process-costing system and has one production department. All materials are introduced at the start of manufacturing; in contrast, conversion cost is incurred uniformly throughout production. The company had respective work-in-process inventories on May 1 and May 31 of 63,200 units and 76,000 units, the latter of which was 50% complete. The production supervisor noted that Fedora completed 112,000 units during the month.

Costs in the May 1 work-in-process inventory were subdivided as follows: materials, $46,000; conversion, $102,000. During May, Fedora charged production with $348,800 of material and $830,000 of conversion, resulting in a material cost per equivalent unit of $2.10.

Required:

1. Determine the number of units that Fedora started during May.
2. Compute the number of equivalent units with respect to conversion cost.
3. Determine the conversion cost per equivalent unit. (Round your final answers to two decimal places.)
4. Compute the cost of the May 31 work-in-process inventory. (Round your intermediate calculations to 2 decimal places and final answers to nearest whole dollar.)
5. What account would have been credited to record Fedora's completed production?