Bakery Inc. produces bread using a continuous baking process. The following data is available for the month of May:

• Beginning work in process inventory: 5,000 units, 50% complete
• Units started and completed: 20,000 units
• Ending work in process inventory: 7,000 units, 40% complete
• Total costs incurred during May: $50,000

1. Calculate equivalent units of production for direct materials and conversion costs. b. Determine the cost per equivalent unit for direct materials and conversion costs. c. Allocate costs to units completed and transferred out and units in ending work in process inventory. d. Calculate the total cost of goods manufactured for Bakery Inc. in May.