Sunland Instrument Company uses a process costing system. A unit of product passes through three departments-moulding. assembly, and finishing-before it is completed. The following activity took place in the finishing department during May: Units Work in process inventory, May 1 1.900 Transferred in from the assembly department 14.600 Completed and transferred out to finished goods inventory 12,000 Raw material is added at the beginning of processing in the finishing department. The work in process inventory was 70% complete in terms of conversion costs on May 1 and 40% complete in terms of conversion costs on May 31 Sunland Instrument Company uses the weighted average method. The equivalent units and current period costs per equivalent unit of production for each cost factor are as follows for the finishing department: Current Period Costs Equivalent per Units Equivalent Unit Transferred-in costs 15.050 $6.00 Raw materials 15.050 220 Conversion costs 13.500 4.20 Total $12.40 Calculate the following amounts: (a) Your answer is correct. The cost of units transferred to finished goods inventory during May Cost of units transferred to finished goods inventory $ 148800 eTextbook and Media Attempts: 3 of 4 used (b) The cost of the finishing department's work in process inventory on May 31 Cost of the finishing department's work in process inventory $