\begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline & \multicolumn{2}{|c|}{ Physical Units } & \multicolumn{6}{|c|}{ Equivalent Units Processed } \\ \hline & \multirow{3}{*}{ To account for } & \multirow{3}{*}{ Accounted for } & \multirow{2}{*}{\multicolumn{3}{|c|}{(EU=DOC*Physicalunits)DirectMaterials}} & \multirow{2}{*}{\multicolumn{3}{|c|}{\begin{tabular}{c} Conversation Cost \\ (EU = DOC*Physical units) \end{tabular}}} \\ \hline & & & & & & & & \\ \hline & & & DOC & & EU & DOC & & EU \\ \hline Beginning work in process & & & & % & & & % & \\ \hline \multicolumn{9}{|l|}{ Poduction activity in the period: } \\ \hline \multicolumn{9}{|l|}{ Started into production } \\ \hline Started and completed & & & & % & & & % & 7 \\ \hline \multicolumn{9}{|l|}{ Completed units } \\ \hline Ending work in process & & & & % & & & % & \\ \hline Total volume processed & & & WACM & & & WACM & & \\ \hline \multicolumn{9}{|l|}{ Less EU from beginning of period } \\ \hline \multicolumn{9}{|l|}{ Cost in work process, beginning } \\ \hline \multicolumn{9}{|l|}{ Costs added in the period } \\ \hline \multicolumn{9}{|l|}{ Total costs to account for } \\ \hline \multicolumn{9}{|l|}{ EU produced in May } \\ \hline Cost per EU & & & & & & & & \\ \hline \end{tabular} The Fabric Department of Vtements Ltd., a producer of fabric for Broadway Shows, has the following information regarding costs and output for May: The company uses the FIFO method of process costing. Required: 1. Prepare a quantity schedule showing the computation of the equivalent units of production for May. The company is interested in learning if there will be a difference between the WACM and FIFO approaches for data for May. (Round cost per equivalent unit to 2 decimal places.) 2. Calculate the cost of 240,000 units transferred out in May. 3. Calculate the cost of ending inventory in May. (Do not round intermediate calculations.)