FIFO: Process cost summary, equivalent units, cost estimates

Dengo Co. manufactures a single product in one department. Direct labor and overhead are added evenly throughout the process, while direct materials are added at the beginning of the process. The company uses the FIFO method of process costing. During May, the company completed and transferred 22,400 units to finished goods inventory. Of the units completed, 3,100 were from beginning inventory and the remaining 19,300 were started and completed during the month. Beginning goods in process were 100% complete with respect to direct materials and 30% complete with respect to direct labor and overhead. The company has 2,500 units (100% complete with respect to direct materials and 70% complete with respect to direct labor and overhead) in process at month-end. Information on costs of beginning inventory and costs added during the month follows.

Cost	Raw Materials	Direct Labor	Overhead
Of Beginning Inventory	10,000	61,750	49,400
Added during the month	252,880	615,330	492,264f