Information for the Nichols Manufacturing Company for the month of May is as follows: Beginning work in process: Units, 800 Direct materials, 100% complete Conversion costs, 70% complete Units started in May, 14,000 Ending work in process inventory: Units, 1,500 Direct materials, 100% complete Conversion costs, 30% complete Cost of Inventory at process, May 1 Costs charged to Work in Process during May: Direct materials costs, $57,400 Direct labor costs, $20,049 Factory overhead costs, $30,073 Prepare a cost of production report for the month of May, using the FIFO method. $5,010 Round your cost per equivalent unit amounts to two decimal places. Round all other amounts to the nearest dollar. If an amount is zero enter answer as "0". Nichols Manufacturing Company UNITS Cost of Production Report For the Month Ended May 31 Equivalent Units Whole Units Direct Materials Conversion Beginning work in process, (70% complete) Units started & completed Ending work in process (30% complete) COSTS Unit costs: Total cost for May Total equivalent units Cost per equivalent unit Costs charged to production: Inventory in process, May 1 Costs incurred in May Total costs accounted for in May Costs Direct Materials Conversion Total Costs hbo