Required information [The following information applies to the questions displayed below.] Carson Paint Company, which manufactures quality paint to sell at premium prices, uses a single production department. Production begins by blending the various chemicals that are added at the beginning of the process and ends by filling the paint cans. The gallon cans are then transferred to the shipping department for crating and shipment. Direct labor and overhead are added continuously throughout the process. Factory overhead is applied at the rate of $3 per direct labor dollar. The company combines direct labor and overhead in computing product cost. Prior to May, when a change in the manufacturing process was implemented, Work-in-Process Inventories were insignificant. The changed manufacturing process, which has resulted in increased equipment capacity, allows increased production but also results in considerable amounts of Work-in-Process Inventory. Also, the company had 1,000 spoiled gallons in May-one-half of which was normal spoilage and the rest abnormal spoilage. The product is inspected at the end of the production process. These data relate to actual production during the month of May: Work-in-Process Inventory, May 1 Direct materials Direct labor May costs added: Direct materials Direct labor Costs $ 112,200 14,661 448,800 58,644 Units Work-in-Process Inventory, May 1 30% complete as to conversion activity 2,000 100% complete as to direct materials Sent to shipping department Started in May 26,700 32,200 Work-in-Process Inventory, May 31 80% complete as to conversion activity 6,500 100% complete as to direct materials Total spoilage (units), in May % Spoilage considered normal ? 50% Stage of processing when spoilage is detected 100% Required 1. Prepare a production cost report for May using the weighted-average method. (Round "Cost per EU" answers to 2 decimal places.) Required 1. Prepare a production cost report for May using the weighted-average method. (Round "Cost per EU" answers to 2 decimal places.) Carson Paint Company Production Cost Report - May Production Information Input: Beginning WIP Units started or Trans-in Physical Units Direct Materials Conversion Quantity Recap: Physical Units Total units to account for 0 Output: Units finished or Trans-out Normal spoilage Abnormal spoilage Ending WIP Total units accounted for Materials Conversion Beginning WIP Current costs Total Divide by equivalent units WTAVG Cost per equivalent unit Finished goods Good production Normal spoilage Abnormal spoilage Ending WIP Direct materials Conversion Total cost accounted for 96 96 96 96 96 96 96 96 96 % 0 Equivalent Units: Weighted-Average Cost Added Direct Materials Conversion Total $ 0 0 $ 0 $ 0 $ 0 $ 0.00 Cost Summary: Weighted-Average Method units units $ O units units $ 0 $ 0