P4-3A. Product Cost Report-Weight Average Method Riley Manufacturing Corporation produces a cosmetic product in three consecutive processes. The costs of Department 1 for May 2019 were as follows:

Cost of beginning inventory

Direct materials $9,800

Conversion costs.. $16,480

Costs added in Department 1:

Direct materials$295, 120

Direct labor..$298, 550

Manufacturing overhead.$203,130 $796,800

Department 1 handled the following units during May:

Units in process, May 1, 2019....2,000

Units started in Department 1.40,000

Units transferred to Department 2..39,000

Units in process, May 31, 2019....3,000

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. Riley uses the weighted average method for process costing.

Required

Prepare the product cost report for Department 1 for May.