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 33,200 units of product to direct materials and $1,057,888 of conversion costs. It has 3,500 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $756,000 of direct material costs and $3,514,112 of conversion costs were charged to production.

Beginning work in process consisted of 5,200 units that were 100% complete with respect to direct materials and 40% complete with respect to conversion.

Of the 33, 200 units completed, 5,200 were from beginning work in process. The remaining 28,000 were units started and completed during May.

Assume that Tamar uses the FIFO method to account for its process costing system.

Prepare the companys process cost summary for May using the FIFO method. (Round Cost per EUP to 2 decimal places.)

Total costs to account for:
Cost of beginning work in process
Costs incurred this period
Total costs to account for:
Total costs accounted for
Difference due to rounding cost/unit
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

Equivalent units of production (EUP) FIFO method

	Units	% Materials	EUP- Materials	% Conversion	EUP-Conversion
Beginning work in process inventory-units
Units started and completed this period
Ending work in process-units
Total units
Cost per equivalent unit of production			Materials		Conversion
Cost incurred this period
Total costs		Costs		Costs
/ Equivalent units of production		EUP		EUP
Costs per equivalent unit of production(rounded 2 decimals)
Total costs accounted for:
Beginning Inventory Cost:
Cost to completed beginning inventory	EUP	Cost per EUP	Total Cost
Direct materials
Conversion
Total cost to complete beginning inventory
Total cost of units in beginning inventory
Cost of units started and completed	EUP	Cost per EUP	Total Cost
Direct Materials
Conversion
Total cost of units started and completed
Total cost of units transferred out
Costs of ending work in process
Direct Materials
Conversion
Total cost of ending work in process
Total costs accounted for