3-12

Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Materials 33,500 EUP 4,000 EUP 37,500 EUP 33,500 EUP 2,400 EUP 35,900 EUP Costs per EUP Costs of beginning work in process costs incurred this period Total costs Direct Materials $ 34,050 367,200 $401,250 Conversion $ 3,780 190,000 $ 193,860 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 3,500 34,000 33,500 4,000 Exercise 03-12 Weighted average: Completing a process cost summary LO C3 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 3,500 34,000 33,500 4,000 Exercise 03-12 Weighted average: Completing a process cost summary LO C3 Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) 0.00 $ 0.00 Costs Charged to Production Costs of beginning work in process Costs incurred this period Total costs to account for Total costs accounted for "Difference due to rounding cost/unit Unit Reconciliation Units to account for Beginning work in process Units started this period Total units to account for Total units accounted for Completed and transferred out Ending work in process Total units accounted for % Materials EUP- Materials % Conversion EUP- Conversion Materials Conversion Costs EUP Costs EUP Equivalent Units of Production (EUP)-Weighted Average Method Units (Units completed and transferred out Units of ending work in process Equivalent units of production Cost per EUP Cost of beginning work in process Costs incurred this period Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out Direct materials Conversion Total transferred out Costs of ending work in process EUP Direct materials Conversion Total ending work in process Total costs accounted for EUP Cost per EUP Total cost Total cost Couper $ 0.00 $ 0.00