Oslo Company produces large quantities of a standardized product. The following information is available for the frst productiondepartment for May. Prepare a production cost report for this process using the weighted average method,Note: Round "Cost per EUP" to $2$ decimal places.Beginning work in process inventoryUnits star rted t this periodCompleted and transferred outEnding work in process inventoryBeginning work in process inventoryDirect materialsConversionCasts added this periodDirect materialsConversionTotal costs to account forUnit reconciliathonUnits to account for:Begnning work in processUnits started this penodTotal units to account forUnits accounted for:Completed and transferred outEnding work in processTotal units accounted forEnding work in processCompieted and transferred outEquvalent Units of ProductionCost per equivalent unit of productionCosts of begnning wok in processCosts added this periodEquivalent units of production $($EUP$)-$ weighted average methodEqivalent Units of ProductionCost per equivalent unit of productionCosts of beginning work in processCosts added this penodTotal costsEquvalent units of productionCost AssignmentCompleted and transferred outDrect materialsCorversionCost per equivalent unit of production $($rounded to $2$ decimals$)$Ending work in processDrect materialsConversionTotal costs accounted forUnits$5,40019,00018,600$S $4,2795,8009,138317,800394,592$oSLO COMPANY$-$First Department$540019,000$Production Cost Report $-$ Weighted Average MethodFor Month Ended May $3124,400$Units$18,600|712,392$S $725,8090$SLO COMPANY$--$First DepartmentProduction Cost Report$-$VWeighted Avorage MethodFor Month Ended May $315,80024,4005,80018,600$Direct$24,400$EUPMaterials ConversionEUPPercentComplete$100\%$S $13,41724,400\%$ CompleteDirect Materials$100\%100\%$PercentCompleteCastsEUPCost per EUPCost per EUP$35\%0000\mathrm{.}00$EUP$5,80018,60024,400$Direct Materi als$24,400$Direct MaterialsTotal costTotal costConversion$\%$Complete$100\%35\%$CostsEUPEUP$58006\mathrm{.}51012\mathrm{.}310$Conversion$12$Conversion