Required Information [The following Information applies to the questions displayed below.] Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 23,700 units of product to finished goods Inventory. Its 3,300 units of beginning work in process consisted of $20,100 of direct materials and $235,440 of conversion costs. It has 2,550 units (100% complete with respect to direct materials and 80% complete with respect to conversion) In process at month-end. During the month, $557,400 of direct material costs and $2,132,640 of conversion costs were charged to production. 1. Prepare the company's process cost summary for May using the weighted average method. Total costs to account for: Costs of beginning work in process Costs incurred this period Total costs to account for: Total costs accounted for Difference due to rounding cost/unit s 0 Unit reconciliation: Units to account for: Beginning work in process inventory - units 3.300 Units started this period Total units to account for Total units accounted for: Units completed and transferred out Ending work in process - units Total units accounted for Equivalent units of production (EUP)- weighted average method Units EUP- 23,700 2,550 26,250 % Materials EUP-Materials % Conversion 100% 23,700 100% 100% 2,550 80% 26,250 Materials 23.700 2,040 25,740 Conversion Units completed and transferred out Ending work in process - units Total units Cost per equivalent unit of production Costs of beginning work in process Costs incurred this period Total costs - Equivalent units of production Cost per equivalent unit of production Total costs accounted for: 557,400 557,400 $ Costs EUP Costs EUP Cost of units transferred out: Cost per EUP Total cost EUP Direct materials Conversion Total costs transferred out EUP Cost per Total cost Costs of ending work in process Direct materials Conversion $ $ EUP 0.00 0.00 $ Total cost of ending work in process Total costs accounted for