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Rigby Ltd accumulates costs for its single product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. The following is a partially completed production report for May. E Production report, May Physical Percentage of Equivalent units completion Direct Conversion to conversion Work in process, 1 May 25,000 4 Units started during May 30,000 Units completed and 35,000 35,000 35,000 transferred out during May Work in process, 31 May 20,000 20,000 16,000 Total units accounted for \" _ Direct material Conversion Total Work in prooess.1 May _ $143,000 $474,700 $617,700 Costs incurred during $165,000 $2,009,000 $2,174,000 May Total costs to account for Required: a) Complete the following process costing steps using the weighted average method: 1 Calculation of equivalent units. ii Calculation of unit costs. iii Analysis of total costs. b) Prepare a journal entry to record the transfer of the cost of goods completed and transferred out during May. $308,000 $2,483,700 $2,791,700