Triangle Fastener Corporation accumulates costs for its single product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. A partially completed production report for the month of May follows.

Production Report For the Month of May
			Physical Units			Percentage of Completion with Respect to Conversion			Equivalent Units
									Direct Material	Conversion
Work in process, May 1			30,000			39	%
Units started during May			45,000
Total units to account for			75,000
Units completed and transferred out during May			42,000						42,000	42,000
Work in process, May 31			33,000			68	%		33,000	22,440
Total units accounted for			75,000

	Direct Material					Conversion					Total
Work in process, May 1	$	127,300				$	567,600				$	694,900
Costs incurred during May		236,450					2,515,854					2,752,304
Total costs to account for	$	363,750				$	3,083,454				$	3,447,204

Problem 4-28 Part 1

Required

1. Complete each of the following process-costing steps using the weighted-average method:

a. Calculation of equivalent units.

b. Computation of unit costs.

c. Analysis of total costs.