Requirement Use the five steps of process costing to calculate the cost that should be assigned to (1) units completed and transferred out and (2) units still in ending work in process inventory. Then prepare the journal entry needed at month-end to transfer the costs associated with the formed tiles to the next department, Tile-Finishing. Beginning work in process,May 1................................................................................................ 2,000 units Started in production during May.................................................................................................. 18,000 units Completed and transfered to Finsihing Department during May.................................................. 16,000 units Ending work in process, May 31( 25% complete as to direct materials,, 55% complete as to conversion cost....................... 4,000 units Information about costs: Beginning work in process, May 1( consists of 800$ of direct materials cost and $4,000 of conversation costs).......................................................................................................................................... $ 4,800 Direct materials used in May...................................................................................................... $ 6,000 Conversation costs incurred in May............................................................................... $ 32,400