Regal Polish manufactures a single product in one department and uses a process costing system. At the start of
May, there were		10,000	units in process that were		100%	complete with respect to direct
materials and		60%	complete with respect to conversion costs (labor and overhead). During the
month, the company began production on				105,000	units and ending Work in Process Inventory
consisted of		5,000	units that were		100%	complete with respect to material and
70%	complete with respect to conversion costs.
	Cost Information:			Beginning Work in Process		Costs Added in May
	Direct material			$4,000		$76,500
	Direct labor			200		8,880
	Manufacturing overhead			300		9,915
	Total:			$4,500		$95,295
Required:
Part a. Calculate the cost per equivalent unit for each of the three cost items and in total.
Text answer as desired.
	The denominators for the calculations of cost per equivalent are:
			Units Completed	Equivalent Units in Ending WIP	Total
		Material	Number	Formula	Formula
		Labor	Number	Formula	Formula
		Overhead	Number	Formula	Formula
		Beginning WIP	Cost Added	Total	Denominator	Cost per EU
	Material	Amount	Amount	Formula	Number	Formula
	Labor	Amount	Amount	Formula	Number	Formula
	Overhead	Amount	Amount	Formula	Number	Formula
	Total	Formula	Formula	Formula		Formula
Part b. Calculate the cost of units completed in May and the cost of ending Work in Process.
		Enter formula as desired.
		Cost of items in ending work in process:
		Material				Amount
		Labor				Amount
		Overhead				Amount
		Total				Formula
Part c. Reconcile the sum of the two costs in part b to the sum of beginning Work in Process and costs added in May.
		Title			Amount
		Title			Amount
		Total			Formula
		Title			Amount
		Title			Amount
		Total			Formula