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 24,200 units of product to finished goods inventory. Its 3,400 units of beginning work in process consisted of $20,200 of direct materials and $239,940 of conversion costs. It has 2,600 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $596,200 of direct material costs and $2,204,100 of conversion costs were charged to production.

1. Prepare the companys process cost summary for May using the weighted-average method.

Required Information The following information applies to the questions displayed below.] 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 24,200 units of product to finished goods inventory. Its 3,400 units of beginning work in process consisted of $20,200 of direct materials and $239,940 of conversion costs. It has 2.600 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $596,200 of direct material costs and $2.204,100 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: Costs of beginning work in process $ 260,140 Costs incurred this period 2.800,300 Total costs to account for: $ 3,060,440 Total costs accounted for Difference due to rounding cost/unit s Unit reconciliation: Units to account for: Beginning work in process inventory - units 3.400 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)- weighted average method Units % Materials lor . % Conversion EUP Materials EUP. Conversion Total units Cost per equivalent unit of production Materials Conversion Costs EUP Costs EUP Total costs - Equivalent units of production Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out: EUP Cost per FUP Total cost Direct materials Conversion Total costs transferred out Cost per EUP EUP I Total cost lotal cost Costs of ending work in process Direct materials Conversion $ 0.00 s $ 0.00 Total cost of ending work in process Total costs accounted for Required Information The following information applies to the questions displayed below.] 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 24,200 units of product to finished goods inventory. Its 3,400 units of beginning work in process consisted of $20,200 of direct materials and $239,940 of conversion costs. It has 2.600 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $596,200 of direct material costs and $2.204,100 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: Costs of beginning work in process $ 260,140 Costs incurred this period 2.800,300 Total costs to account for: $ 3,060,440 Total costs accounted for Difference due to rounding cost/unit s Unit reconciliation: Units to account for: Beginning work in process inventory - units 3.400 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)- weighted average method Units % Materials lor . % Conversion EUP Materials EUP. Conversion Total units Cost per equivalent unit of production Materials Conversion Costs EUP Costs EUP Total costs - Equivalent units of production Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out: EUP Cost per FUP Total cost Direct materials Conversion Total costs transferred out Cost per EUP EUP I Total cost lotal cost Costs of ending work in process Direct materials Conversion $ 0.00 s $ 0.00 Total cost of ending work in process Total costs accounted for