PROBLEM 3-1. Comprehensive Problem, One Department. Regal Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 11,000 units in process that were 100 percent complete with respect to direct mater- ial and 60 percent complete with respect to conversion costs (labor and overhead). During the month, the company began production of 105,000 units. Ending Work in Process inventory consisted of 5,100 units that were 100 percent complete with respect to material and 70 percent com- plete with respect to conversion costs.
Cost Information	Beginning Work in Process	Costs added in May
Direct Material	$4,000	$76,500
Direct Labor	$200	$8,880
Manufacturing Overhead	$300	$9,915
Total	$4,500	$95,295
Required
a. Calculate the cost per equivalent unit for each of the three cost items and in total. Round to 3 decimal places. b. Calculate the cost of items completed in May and the cost of ending Work in Process. Round to 2 decimal places. c. Reconcile the sum of the two costs in part b to the sum of beginning Work in Process and costs added in May.