Ch 16 Homework 5 Part 1 of 2 Required information (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. points cBook Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials Conversion 37,000 EUP 37,000 EUP 4,500 EUP 2,700 EUP 41,500 EUP 39, 700 EUP Hint Print Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials Conversion $ 41,850 $ $ 4,880 431,250 237,290 $ $ 473,100 $ 242,170 References 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 4,000 37,500 37,000 4,500 Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) EUP- Conversion % Conversion 100% 37,000 Costs Charged to Production Costs of beginning work in process $ 46.730.00 $ Costs incurred this period 668,540.00 Total costs to account for $ 715,270.00 Total costs accounted for *Difference due to rounding cost/unit $ 0.00 Unit Reconciliation Units to account for Beginning work in process 4,000 Units started this period 37,500 Total units to account for 41,500 Total units accounted for Completed and transferred out 37,000 Ending work in process 4,500 Totale. Total units accounted for 41,500 Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP-Materials Units completed and transferred out 37,000 100% 37.000 Units of ending work in process 4,500 100% 4,500 Equivalent units of production 41,500 41.500 Cost per EUP Materials Cost of beginning work in process $ 41,850 Costs incurred this period 431,250 Total costs Costs $ $ 473.100 + Equivalent units of production EUP 41.500 Cost per equivalent unit of production $ 11.40 Cost Assignment and Reconciliation Costs transferred out EUP Cost per EUP Total cost Direct materials 421,800 $ 11.40 $ 4,808,520.00 Conversion Total transferred out Cost per Costs of ending work in process EUP EUP Total cost Direct materials $ 11.40 Conversion $ 0.00 Total ending work in process Total costs accounted for Conversion 4,880 $ 237,290 242,170 $ $ Costs EUP 0