Refer to the information in Exercise 16-12. Prepare a process cost summary using the FIFO method.

(Round cost per equivalent unit calculations to two decimal places.)

Data From Exercise 16-12 The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Prepare its process cost summary using the weighted-average method.

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Equivalent Units of Production Direct Materials Conversion Units transferred out 32,000 EUP 32,000 EUP Units of ending work in process 2,500 EUP 1,500 EUP Equivalent units of production.. 34,500 EUP 33,500 EUP Direct Costs per EUP Materials Conversion Costs of beginning work in process Costs incurred this period... Total costs.... $ 18,550 357,500 $376,050 $ 2,280 188,670 $190,950 Units in beginning work in process (all completed during July) Units started this period...... Units completed and transferred out. Units in ending work in process 2,000 32,500 32,000 2,500