Here is the problem: The following information relates to Caromatic Company for its line of perfume products for the month ended May 31: Units in beginning inventory (units equal cases of 2,600 product) Cost of tinits in beginning inventory: Materials $40,200 Conversion costs (labor and overhead) $18,700 Units placed in production 53,000 Costs incurred during the current period: Materials $131,000 Conversion costs (labor and overhead) $214,000 Units remaining in ending inventory (100% complete as to materials, 65% complete as to 2.900 conversion costs) Required: Prepare a production cost report for the month ended May 31, using the average cost method L24 D B Caromatic Company Production Cost Report For the Month Ended May 31 8 9 10 11 12 13 14 Actual Units Calculation of physical units: Units in beginning inventory Units started during the period Units to be accounted for Actual Equivalent Units Units Materials CC Units completed and transferred Units in ending inventory Total units accounted for Costs: Materials CC Total 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 38 40 41 42 43 Costs in Beginning Inventory Costs added during period Total Costs to account for Equivalent Units from above Cost per equivalent unit Materials CC Total Costs accounted for: Units completed and transferred Units in Ending Inventory Total Costs Accounted For