Elliott Company produces large quantities of a standardized product. The following information is avail- able for its first production department for March. Prepare a production cost report for this department using the weighted average method. Exercise 20-16 Production cost report P2 Weighted average: Direct Materials Units Percent Complete Conversion Percent Complete Beginning work in process inventory Direct materials $ 2.500 Conversion. 6,360 $ 8,860 Costs added this periodi Beginning work in process inventory 2,000 Direct materials 168,000 Units started this period..... 20,000 Conversion. 479,640 647,640 Completed and transferred out. 17.000 Ending work in process inventory.... 5,000 100% 35% Total costs to account for $656,500 Check Cost per equivalent unit conversion, $25.92