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. The following is a partially completed production report for May. Equivalent units Direct Conversion materials Production report, May Physical Percentage of units completion with respect to conversion 25,000 40% 30,000 | 55,000 35,000 Work in process, 1 May Units started during May 35,000 35,000 Units completed and transferred out during May Work in process, 31 May Total units accounted for | 80% 20,000 16,000 20,000 55,000 Work in process, 1 May Costs incurred during May Total costs to account for Direct material $143,000 $165,000 $308,000 Conversion $474,700 $2,009,000 $2,483,700 Total $617,700 $2,174,000 $2,791,700 Required: a) Complete the following process costing steps using the weighted average method: i Calculation of equivalent units. (3 marks) ii Calculation of unit costs. (3 marks) ill Analysis of total costs. (3 marks) b) Prepare a journal entry to record the transfer of the cost of goods completed and transferred out during May. (1 mark)