How do you calculate the blanks I circled, not just the answer. Please show work.

Chapter 5 - Process Cost Accounting-General Procedure PS-8 os to charge the materials and labor in process accounts, to apply fac- rocess, and to record the transfer of P5-9 Journal entries and cost of goods manufacture and cost of goods manufactured statemen required: Using the data in P5-7: 1. Draft the necessary entries to charge the ma costs to the appropriate work in process accounts, tory overhead to work in process and to record costs from one department to another. 2. Prepare a statement of cost of goods me statement of cost of goods manufactured for the month ended July 31. Cost of production summary two departments; beginning inventory Aero Aluminum Inc. uses a process cost system. The records 10 May show the following information: Production Report Rolling Converting Units in process, May 1... 5,000 10,000 Started during the month 20,000 Received from prior department ..... Finished and transferred .... Finished and on hand .......... 5,000 Units in process, May 31 ..... 5,000 15,000 Stage of completion.......... 1/5 15,000 10,000 15.000 Self- 1/3 Production Costs Work in process, May 1: Costs transferred in from Rolling ............. $50,000 Materials ............ ......... $5,000 5,000 Labor............... 6,450 5,500 Factory overhead.... 3,550 3,500 Costs incurred during the month: Materials. ........ . 37,000 40,000 Labor .................. 45,000 44,000 Factory overhead ............. 50,000 37,000 Total. ...... $147,000 $185,000 Required: Prepare a cost of production summary for each department. (Hint: When preparing the Converting production summary, refer to the Rolling production summary for the costs transferred in during the month.) 9.10 lat Gridlines Headings Selection ermal Page Break Page Custom Preview Layout Views Workbook Views Show Zoom - X fx H I J K L ABCD F G Aero Aluminum Inc. Cost of Production Summary-Rolling For the Month Ended May 31, 20- $ 5,000 6.450 3,550 $ 15,000 Cost of work in process, May 1: Materials Labor Factory overhead Cost of production for month Materials Labor Factory overhead Total costs to be accounted for 37.000 45,000 50,000 $ 132.000 147,000 Unit output for month: Finished and transferred to Converting Finished and on hand Equivalent units of work in process, May 31 Total equivalent production 15,000 5,000 1,000 21.000 $ $ 200 Unit cost for month: Materials Labor Factory overhead Total 42,000 51,450 53,550 147,000 21,000 21,000 21,000 245 2.55 7.00 $ $ 105,000 35,000 Inventory costs Costs of goods finished and transferred to Converting Cost of goods finished and on hand Cost of work in process, May 31: Materials Labor Factory overhead Total Total production costs accounted for $ 2,000 2,450 2.550 $ 7.000 147,000 Aero Aluminum Inc. Cost of Production Summary-Converting For the Month Ended May 31, 20- Cost of work in process, May 1: Ruler Formula Bar Gridlines Zoom 100% Headings Normal Page Break Page Custom Preview Layout Views Workbook Views Zoom to Selection Show Zoom x x 025 4 A - B C D F G H I J K I Aero Aluminum Inc. Cost of Production Summary-Converting For the Month Ended May 31, 20- $ 50,000 $ 5,000 5,500 3,500 14.000 $ Cost of work in process, May 1: Costin Rolling Costin Converting Materials Labor Factory overhead Cost of goods received from Rolling Cost of production in Converting for month Materials Labor Factory overhead Total costs to be accounted for 64,000 105,000 $ 40,000 44,000 37 000 $ 121,000 290,000 Unit output for month Finished and transferred to finished goods Equivalent units of work in process, May 31 Total equivalent production 10,000 5.000 15.000 $ Units 10.000 Cost 50,000 105 000 155,000 $ 25.000 Unit cost for month Cost for Rolling Beginning inventory Transferred in this month Totals Average cost per unit Cost in Converting: Materials Labor Factory overhead Total 6.20 $ $ 45,000 49,500 40.500 135.000 15,000 15,000 15,000 3.00 3.30 2.70 $ 9.00 Inventory costs: Costs of goods finished and transferred: Unit cost of Rolling and Converting combined Units transferred to finished goods during month Cost of work in process, May 31: Costs in Rolling Costin Converting Total production costs accounted for $ 290.000