Problem 16-5AA FIFO: Process cost summary; equivalent units; cost estimates LO C3, C4, P4 The following information applies to the questions displayed below. mar Co. manufactures a single product in one department. All direct terials are added at the beginning the manufacturing process. Conversion costs are added evenly throughout the process. During May, the eted and transferred 26,700 units of product to finished goods inventory.Its 3,900 units of beginning work in process consisted of $67.395 of direct materials and $1,034,808 of conversion costs. It has te with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $618.165 of direct material costs and $2,703,612 of conversion 2,850 units 00% comple costs were charged to production Beginning work in process consisted of 3,900 units that were 100% complete with respect to direct materials and 40% complete with respect to conversion. Of the 26,700 units completed, 3,900 were from beginning work in process. The remaining 22,800 were units started and completed during May. Assume that Tamar uses the FIFO method to account for its process costing system References