Scenario It is June 1, 2022 and the secret is out! Your catering has been such a hit that you finally opened a small bakery just around the corner. You no longer track costs by job. You have switched to a process costing system. You have three different major processes: baking, decorating, and packaging. You reviewed the Cost of Production Report for the Decorating Department for the month of May. You are concerned that the Decorating Department may not be operating efficiently. Specifically, you noticed that the Production manager has omitted some of the data on the Cost of Production report. Determine the missing information. If there is no amount or an amount is zero, enter "0". Round your per-unit computations to the nearest cent, if required. The Cupcake Escape Cost of Production Report - Decorating Department For the Month Ending May 30 Unit Information Units charged to production: Inventory in process, May 1 Received from Baking Department Total units accounted for by the Production Department Units to be assigned costs Whole Units Inventory in process, May 1 (40% completed) Started and completed in May 103 1,542 Transferred to Packaging Department in May Inventory in process, May 31 (80% completed) 1,645 3,000 Total units to be assigned costs 4,645 Cost Information Cost per equivalent unit: Total costs for May in Decorating Department Divide by total equivalent units Cost per equivalent unit Costs assigned to production Inventory in process, May 1 Total costs for May in Decorating Department Total costs accounted for by the Decorating Department Cost allocated to completed and partially completed units Inventory in process, May 1 (balance) To complete inventory in process, May 1 Cost of completed May 1 work in process Started and completed in May Transferred to Packaging Department in May Inventory in process, May 31 (sum the following 2 rows) Inventory in process, May 31 Cost per equivalent unit Total costs assigned by the Decorating Department Equivalent Units 103 1,542 1,645 Direct Materials Conversion 1,542 1,542 Direct Materials Conversion $ 12,217.98 $ 4,644.27 Direct Materials $ Conversion Total 276.53 $ 47.70 $ 324.23 $ 71.55 $ 395.78 $ 4,147.98 $ 1,788.72 $ 5,936.70