P11.5 (LO 1, 2, 3, 4, 5), AP Porcha Industries works hard to keep pace with demand for its modern chandelier. To get it out the door, Porcha first machines raw materials into key component parts. Next, the component parts are assembled. These two processing departments work together, coordinating the output from the machining process into the assembly process. All DM resources are added at the beginning of the machining process, while conversion costs are added evenly throughout the process. For May, the following information was available for the machining process. Units DM Conversion Costs Units in beginning WIP Inventory 600 Beginning WIP Inventory degree of completion ? 70% Costs in beginning WIP Inventory $33,100 $19,360 New units started 8,500 Costs added to WIP Inventory this period $340,000 $208,520 Units completed 8,000 Units in ending WIP Inventory 1,100 Ending WIP Inventory degree of completion ? 40% Required a. Determine the total cost of units completed and the cost of units in ending WIP Inventory- Machining in May by completing Steps 1-5 of the template, assuming Porcha Industries uses the FIFO method of process costing. b. Determine the total cost of units completed and the cost of units in ending WIP Inventory- Machining in May by completing Steps 1-5 of the template, assuming Porcha Industries uses the weighted-average method of process costing. c. Record the journal entry to account for the transfer of units completed out of the WIP Inventory-Machining account consistent with (1) the FIFO method and (2) the weighted- average method