Exercise 181 Mayer Company uses a process cost system. The Molding Department adds materials at the beginning of the process and conversion costs are incurred uniformly throughout the procs Work in process on May 1 was 75% complete and work in process on May 31 was 60% complete Complete the Production Cost Report for the Molding Department for the month of May using the above information and the information below. (Round unit costs answers to 2 decimal places, e.g. 52.75.) MAYER COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2017 Equivalent Units Physical Units Conversion Costs Materials Quantities Units to be accounted for Work in process, May 1 Started into production 8,000 32,000 40,000 Total units Units accounted for Transferred out 35,000 5,000 40,000 Work in process, May 31 Total units Conversion Costs COSTS Materials Total Unit costs