Problem 4-38 ('Ii'ansferred-in Costs; Weighted-Average Method (Appendix Eric Aluminum Company manufactures a variety of aluminum parts for the automotive industry. The company uses a weighted-average process-costing system. A unit of product passes through three departmentsmolding, assembly, and nishingbefore it is completed. The following activity took place in the Finishing Department during May. Units Work-in-process inventory, May 1 1,400 Units transferred in from the Assembly Department 14,000 Units completed and transferred out to finished-goods inventory 11:90\" Raw material is added at the beginning of processing in the Finishing Department. The work-in- process inventory was T0 percent complete as to conversion on May 1 and 40 percent complete as to conversion on May 31. The equivalent units and current period costs per equivalent unit of production for each cost factor are as follows for the Finishing Department. Equivalent Current Period Costs uInts per Equivalent Unit (RS-J Transferred-in costs 15,400 5.00 Raw material 15,400 1.00 Conversion cost 13:30\" E Total Required: 1. Calculate the following amounts: (1. Cost of units completed and transferred out to finished-goods inventory during May. 5. Cost of the Finishing Department's work-in-process inventory on May 31