The following is a summary of the May 2020 operations of Reagan Company that makes and sells airplane models. Suppose that the company uses the FIFO method. Physical Units Direct Conversion Materials Costs WIP, beginning inventory 28,000 $39,200 $30,800 Degree of completion for BI 100% 25% Started in May 60,000 Completed and transferred out in May 66,000 WIP, ending inventory 22,000 Degree of completion for El 100% 50% Costs added in May $96,000 $280,000 What is the amount of direct materials cost assigned to ending WIP at the end of May? $33,000 O $35,200 O $32.000 $34,800 What is the cost of goods transferred out during May? $498,000 $366,800 $296,800 O $363.000