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Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of...

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Accounting

Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 80% complete with respect to conversion; the ending work-in-process inventory is 20% complete. The following data pertain to May:
\table[[,Units],[Work in process, May 1,16,300],[Units started during May,66,500],[Units completed and transferred out,74,500],[Work in process, May 31,8,300]]
\table[[,Total,\table[[Direct],[Materials]],\table[[Conversion],[Costs]]],[Costs:],[Work in process, May 1,$47,750,$19,100,$28,650
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