On average, the May 1 units were 30% complete. The May 31 units were 60% complete. Materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1. Reston uses the weighted average method for process costing.

Required

Prepare the product cost report for Department 1 for May.

Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number.

Product Cost Report-Weighted Average Method Reston Manufacturing Corporation produces a cosmetic product in three consecutive processes. The costs of Department 1 for May 2016 were as follows: Cost of beginning inventory Direct material $4,900 Conversion costs 8,295 Costs added in Department 1 Direct material $147,700 Direct labor 149,275 Manufacturing overhead 101,565 398,540 Department 1 handled the following units during May: Units in process, May 1 2,000 Units started in Department 1 40,000 Units transferred to Department 2 39,000 Units in process, May 31 3,000 Reston Manufacturing Corporation Department 1 Flow of Units and Equivalent Units Calculations, May 2016 Equivalent Units % Work Direct % Work Done Materials Done Complete/Transferred Ending Inventory Total Conversion Costs Product Cost Report Direct Materials Conversion Costs A $ $ Beginning Inventory Current Total Costs to Account For - Total Equivalent Units Average cost / Equivalent unit (round four decimal places) Complete / Transferred: Direct Materials Conversion costs Cost of Goods Manufactured Ending Inventory: Direct Materials Conversion costs Cost of Ending Inventory Total Costs Allocated A A A