Rigby Ltd accumulates costs for its single product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. A partially completed production report for May follows. Production report, May Physical Percentage of Equivalent units units completion with respect to conversion Direct Conversion materials Work in process, 1 May 25 000 40% Units started during May 30 000 55 000 Units completed and transferred out during May 35 000 35 000 35 000 Work in process, 31 May 20 000 80% 20 000 16 000 Total units accounted for 55 000 Direct material Conversion Total Work in process, 1 May $143 000 $ 474 700 $ 617 700 Costs incurred during May 165 000 2 009 000 2 174 000 Total costs to account for $308 000 $2 483 700 $2 791 700 Q1. Explain the primary difference between job costing, process costing and operation costing Required: A. Complete the following process costing steps using the weighted average method: i.calculation of equivalent units ii. calculation of unit costs iii. analysis of total costs. B. Prepare a journal entry to record the transfer of the cost of goods completed and transferred out during May.