Florida Tile produces ceramic tiles using two sequential production departments: Tile-Forming and Tile-Finishing. The following information was found for Florida Tile's first production process, the Tile-Forming Department. (Click the icon to view the data for the Tile-Forming Department.) Requirement Use the five steps of process costing to calculate the cost that should be assigned to (1) units completed and transferred out and (2) units still in ending work in process inventory. Then prepare the journal entry needed at month-end to transfer the costs associated with the formed tiles to the next department, Tile-Finishing. Data Table Begin by summarizing the physical flow of units and computing total equivalent units for direct materials Florida Tile: Tile-Forming Department Equivalent Unit Computation Month Ended May 31 FLORIDA TILE TILE-FORMING DEPARTMENT month Ended May 31 Information about units: 2,000 units Flow of Physical Units Equivalent Units Direct Conversion 18.000 units Materials Costs 16,000 units Flow of Production Units to account for: : Beginning work in process, May 1 Plus: Started in production during May Total physical units to account for Beginning work in process, May 1 Started in production during May Completed and transferred to Finishing Department during May Ending work in process, May 31 (25% complete as to direct materials, 55% complete as to conversion cost) Information about costs: 2000 4.000 units 18000 20000 S Units accounted for: Completed and transferred out Beginning work in process, May 1 (consists of $800 of direct materials cost and $4,000 of conversion costs) Direct materials used in May Conversion costs incurred in May S 4,800 6,000 32,400 5 Plus: Ending work in process, May 31 Total physical units accounted for Total equivalent units Next, summarize total costs to account for. Florida Tile: Tile-Forming Department Costs to Account for Month Ended May 31 Direct Conversion Materials Costs Total Total costs to account for Calculate the cost per equivalent unit. (Enter the cost per equivalent unit to the nearest cent.) Florida Tile: Tile-Forming Department Cost per Equivalent Unit Month Ended May 31 Direct Conversion Materials Costs Cost per equivalent unit Now we can calculate the total cost of the units completed and transferred out and the total cost of the ending work in process.(Enter quantities first, then the cost per equivalent unit amounts in the same order as calculated in the preceding step. Round the total costs to the nearest whole dollar.) Florida Tile: Tile-Forming Department Month Ended May 31 Assigning Costs Direct Conversion Total Materials Costs Completed and transferred out: Ending work in process: Total costs accounted for Finally, journalize the transfer of costs to the Finishing Department. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit