Name Wayne Inc. uses weighted average costing and has two de mixing and packaging The following information relates to the work in the mixing department for the month of May. Required: Prepare the mixing department's process cost summary for Use only cell referencing and formulas. Do not enter data in the gray cells. May Data Beginning Work in Process Inventory Costs Direct Materials $12,600 Conversion Costs $8,1001 During the month the company incurred the following costs: Direct materials $398,580 Conversion $489,174 360 7,440 540 Units Beginning inventory Started Ending inventory Beginning in eory percent completa Materials-Percent complete Conversion-Percent complete Erotingieny poder como Materials-Percent complete Conversion-Percent complete 60% 40% 40% 30% Check figures Total equivalent units of production (EUP) Materials - 7,476 Conversion - 7.422 Total Step 1 Total costs to account for: Costs of beginning work in process Direct Materials Conversion Costs incurred this period Direct Materials Conversion Step 1 Report costs to account for Step 2 Prepare a physical flow reconciliation Step 3 Calculate equivalent units of production Step 4 Calculate costs per equivalent units for direct materials and conversion costs Step 5 Calculate costs accounted for Step 6 Reconcile costs to account for (step 1) and costs accounted for (step 5) Total costs to account for Step 6 Total costs accounted for (from Difference Step 2 Unit reconciliation: Units to account for: Beginning work in process inventory Units started this period Total units to account for Total units accounted for Units completed and transferred out Ending work in process - units Total units accounted for These must be the same 24 EUP Step 3 Equivalent units of production (EUP)-weighted average method Units EUP Matell Units completed and transferred out Ending work in process - units Total units Materials Conversion Step 4 Cost per equivalent unit of Cost of beginning work in process Costs incurred this period Total costs - Equivalent units of production Cost per equivalent unit of production Costs Costs EUP EUP EUP Cost per Total Step 5 Total costs accounted for Cost of units transferred out: Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Cost per Total