Quality tiles produces ceramic tiles using two sequential production departments: Tile-Forming and Tile-Finishing. The following information was created for Drimo Tile's first production process, the Tile-Forming Department. QUALITY TIL TILE-FORMING DEPARTMENT Month Ended May 31 Information about units: Beginning work in process, May 1 Started in production during May. Completed and transferred to Finishing Department during May. Ending work in process, May 31 ( 25% complete as to direct materials, 55% complete as to conversion cost)..... Information about costs: Beginning work in process, May 1 (consists of $8000 of direct materials cost and $40,000 of conversion costs). Direct materials used in May. 20,000 units Conversion costs incurred in May. 180,000 units 160,000 units 40,000 units $48000 $60000 $324,000 Requirement Use the five steps of process costing to calculate the cost that should be assigned to (1) units completed and transferred out and (2) units still in 1 ending work in process inventory. Then prepare the journal entry needed at month-end to transfer the costs associated with the formed tiles to the next department, Tile- 2 Finishing