Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March. Units Beginning work in process inventory Started Ending work in process inventory 2,500 25,000 5,000 Costs Beginning work in process inventory Direct materials Conversion $ 3,725 11,580 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added 30% Overhead applied (140% of direct labor) Total costs to account for Ending work in process inventory $ 15,305 185,750 182,375 255,325 $638,755 $ 62,530 Prepare a process cost summary report for this process using the weighted-average method (Round "Cost per EUP" to 2 decimal places.) $ 15,305 623,450 638,755 $ 0 Total Costs to Account for: 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 inventory Units started this period Total units to account for Total units accounted for: Units completed and transferred out Ending work in process Total units accounted for 2,500 25,000 27,500 22,500 5.000 27,500 EUP- Materials % Conversion EUP-Conversion 22,500 100% 22,500 5,000 30% 1,500 27,500 24,000 Materials Conversion $ 3,725 $ 11,580 185,750 437,700 $ 189,475 Costs $ 449,280 EUP Costs Equivalent Units of Production (EUP)- Weighted Average Method Units % Materials Units completed and transferred out 22,500 100% Ending work in process 5,000 100% Total units 27,500 Cost per Equivalent Unit of Production Cost of beginning work in process Costs incurred this period Total costs - Equivalent units of production EUP Cost per equivalent unit of production (rounded to 2 decimals) Total Costs Accounted for: Cost of units transferred out: EUP Cost per EUP Direct materials 22,500 Conversion 22,500 Total costs transferred out Costs of ending work in process EUP Cost per EUP Direct materials 5,000 $ 0.00 Conversion 0.00 Total cost of ending work in process Total costs accounted for 0 Total cost Total cost