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Oslo Company produces large quantities of a standardized product. The following information is available for the first production department for May. Prepare a production cost report for this process using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Equivalent units of production (EUP) - weighted average method \begin{tabular}{|c|c|c|c|c|c|} \hline & \multirow[b]{2}{*}{ Units } & \multicolumn{2}{|c|}{ Direct Materials } & \multicolumn{2}{|c|}{ Conversion } \\ \hline & & % Complete & EUP & % Complete & EUP \\ \hline \multicolumn{6}{|l|}{7} \\ \hline \\ \hline \multicolumn{6}{|l|}{ Equivalent Units of Production } \\ \hline Cost per equivalent unit of production & & & Direct Materials & & Conversion \\ \hline \\ \hline \\ \hline Total costs & & Costs & & Costs & \\ \hline Equivalent units of production & & EUP & & EUP & \\ \hline \multicolumn{3}{|c|}{ Cost per equivalent unit of production (rounded to 2 decimals) } & 0 & & 0 \\ \hline \multicolumn{6}{|l|}{ Cost Assignment } \\ \hline Completed and transferred out & EUP & Cost per EUP & Total cost & & \\ \hline \multicolumn{6}{|l|}{ Direct materials } \\ \hline \multicolumn{6}{|l|}{ Conversion } \\ \hline Ending work in process & EUP & Cost per EUP & Total cost & & \\ \hline Direct materials & & 0.00 & & & \\ \hline Conversion & & 0.00 & & & \\ \hline Total costs accounted for & & & & & \\ \hline \end{tabular}

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