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 4,000 40,000 8,000 Costs Beginning work in process inventory Direct materials Conversion sok int Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100 Direct labor added 209 Overhead applied (1408 of direct labor) Total costs to account for Ending work in process inventory rint erences Prepare a process cost summary report for this process using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Anunt for: 4,000 40,000 8,000 Costs Beginning work in process inventory Direct materials Conversion Direct materials added 100% Direct labor added 208 Overhead applied (140% of direct labor) Total costs to account for Ending work in process inventory $ 7,360 9,600 $ 16,960 293,600 232,880 326,032 $869, 472 $ 78,912 ss using the weighted-average method. (Round "Cost per EUP" to 2 Check my work 40.000 Total Costs to Account for: Costs of beginning work in process Costs incurred this period 16,960 852,512 Total costs to account for: 869.472 Total costs accounted for Difference due to rounding cost/unit Unit Reconciliation: Units to account for: Beginning work in process inventory 4.000 Units started this period Total units to account for 44,000 Total units accounted for: Units completed and transferred out 36,000 Ending work in process 8,000 Total units accounted for 44,000 Equivalent Units of Production (EUP)-Weighted Average Method Units 36,000 Units completed and transferred out 8,000 Ending work in process 44.000 Total units Cost per Equivalent Unit of Production Cost of beginning work in process % Materials 100% 100% Conversion EUP.Conversion 100% 20 EUP. Materials 36,000 8000 44,000 Materials 7 ,360 3 Saved Help Save & Exit Submit Check my work % Materials EUP. Materials 36,000 8,000 44,000 Materials $ 7,360 293,600 $ 300,960 44,000 $ 6.84 Conversion EUP.Conversion 100% 36.000 20% 1800 37,600 com $ 9,600 Units Units completed and transferred out 36,000! Ending work in process 100% 8,0001 Total units 100% 44,000 Cost per Equivalent Unit of Production Cost of beginning work in process Costs incurred this period Total costs 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 36.000 Conversion 36,000 Total costs transferred out EUP Cost per EUP Costs of ending work in process 8,000 $ 0.00 Direct materials $ 0.00 Conversion Total cost of ending work in process Total costs accounted for Costs EUP Total cost Total cost
