Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 30,200 units of product to finished goods inventory. Its 4,600 units of beginning work in process consisted of $21,400 of direct materials and $293,940 of conversion costs. It has 3,200 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $680,000 of direct material costs and $2,949,300 of conversion costs were charged to production.

1. Prepare the company's process cost summary for May using the weighted-average method. Total costs to account for: Cost of beginning work in process Costs incurred this period 0 Total costs to account for: Total costs accounted for Difference due to rounding costunit Unit reconciliation Units to account for: Beginning work in process inventory-units Units started this period Total units to account for Total units accounted for: Units completed and transferred out Ending work in process units Total units accounted for quivalent units of production (EUP) weighted average method EUP Units Materials EUP- Materials Conversion Conversion Units completed and transferred out Ending work in process-units Total units Materials Conversion Cost per equivalent unit of production Cost of beginning work in process Costs incurred this period costs costs Total costs EUP EUP Equivalent units of production 0 0 Cost per equivalent unit of production Total costs accounted for Cost per Total cost Cost of units transferred out EUP EUP Direct materials Conversion Total costs transferred out cost per Total cost Costs of ending work in process EUP EUP 000 Direct materials 000 Conversion Total cost of ending work in process Total costs accounted for