Campo Company: Process Costing Campo Company uses a process costing system. On March 1, it had no work-in-process inventory. During the month it started 1,020,000 liters of product and shipped 960,000 liters to its upstream distribution partner. The cost of the resources used by Campo in March amounted to $408,330 direct materials and $1,521,370 conversion costs. The production supervisor estimates that the ending work in process is 40% complete on March 31. Determine (a) cost of product shipped and (b) the cost of March 31 ending work-in-process. You should assume that materials and conversion costs are added uniformly throughout process and that there is no need to account for waste/scrap/spoilage. Process Cost Report Weighted Average Method Equivalent Units Physical EUP Flow of units Units Materials EUP Conversion Units to be accounted for Beginning work-in-process Units started Total units accounted for Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for Costs Total Materials Conversion Costs Costs Costs Flow of costs Costs to be accounted for Costs in beginning work-in-process Current period costs Total costs to be accounted for Costs per EU Costs accounted for Costs assigned to units transferred out Costs assigned to ending work-in-process Total costs accounted for