Green Company Adds Materials at the Beginning of the Process

Green Company adds materials at the beginning of the process in the forming department, which is the first of two stages of its production cycle. Information concerning the materials used in the forming department in May follows:
Materials $\begin{array}{lrl}&\text { Units } &\text { Costs }\\\text { Work-in-Process Inventory at May } 1 & 15,000 & \$ 8,000 \\\text { Units started during May } & 60,000 & \$ 38,500\\\text { Units completed and transferred to next department }&65,000\\\text { during May }\end{array}$ Using the FIFO costing method, calculate the materials cost of the Work-in-Process Inventory in the forming department at May 31. (Round unit calculations to the nearest cent.)