QualCo manufactures a single product in two departments: Cutting and Assembly. During May, the Cutting department completed a number of units of a product and transferred them to Assembly. Of these transferred units, 38,400 were in process in the Cutting department at the beginning of May and 159,500 were started and completed in May. Mays Cutting department beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of May, 52,200 additional units were in process in the Cutting department and were 70% complete with respect to materials and 25% complete with respect to conversion. The Cutting department had $518,900 of direct materials and $478,632 of conversion cost charged to it during May. Its beginning inventory included $74,975 of direct materials cost and $29,393 of conversion cost.

Equivalent units of production (EUP)- FIFO method
	Units	% Materials	EUP- Materials	% Conversion	EUP- Conversion
Total units
Cost per equivalent unit of production			Materials		Conversion
Total costs		Costs		Costs
Equivalent units of production		EUP		EUP
Cost per equivalent unit of production (rounded to 2 decimals)
Total costs accounted for:
Beginning Inventory Cost:
Cost to complete units in beginning inventory	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total cost to complete beginning inventory
Cost of units started and completed	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total cost of units started and completed
Total cost of units transferred out
Costs of ending work in process	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total cost of ending work in process
Total costs accounted for