Name Managerial Accounting Assignment 3-2 Average Cost Method for Process Costing This assignment is worth 20 points, and will be due on Friday, April 3, 2020. Green Manufacturing Company had the following costs related to production in Department B for the month of May: Cost Area Transferred In Materials Labor Factory Overhead WIP 5/1/20 $ 84,000 57.000 69.000 47.000 Current Costs $ 508,000 384.000 558,000 217,000 Department B is sequentially the second department out of four total departments in a multi- department production plan. In Department B, the beginning work in process consisted of 8,000 units, which were 75% complete as to materials and 50% complete as to labor and factory overhead. 64,000 units were completed and transferred to finished goods during the month. At the end of May, work in process consisted of 10,000 units, which were 60% complete as to materials and 20% complete as to labor and factory overhead. Instructions: Prepare a Cost of Production Summary for Department B, assuming that Green uses a weighted average cost flow assumption in valuing its work in process inventory