Refer to the data in Problem 3-5A. Assume that Cisneros uses the FIFO method to account for its process costing system. The following additional information is available:

• Beginning goods in process consisted of 1,500 units that were 100% complete with respect to direct materials and 40% complete with respect to direct labor and overhead.

• Of the 11,100 units completed, 1,500 were from beginning goods in process. The remaining 9,600 were units started and completed during May.

Required

1. Prepare the company’s process cost summary for May using FIFO.

2. Prepare the journal entry dated May 31 to transfer the cost of completed units to finished goods inventory.