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			Costs
Beginning work in process inventory	4,000		Beginning work in process inventory
Started	40,000		Direct materials	$	4,720
Ending work in process inventory	8,000		Conversion		15,264
							$	19,984
Status of ending work in process inventory			Direct materials added					298,440
MaterialsPercent complete	100	%	Direct labor added					255,840
ConversionPercent complete	25	%	Overhead applied (140% of direct labor)					358,176
			Total costs to account for				$	932,440
			Ending work in process inventory				$	88,240

Prepare a process cost summary report for this process using the weighted-average method.

Total Costs to Account for:
Total costs to account for:	$0
Total costs accounted for
Difference due to rounding cost/unit	$0
Unit Reconciliation:
Units to account for:
Total units to account for
Total units accounted for:
Total units accounted for
Equivalent Units of Production (EUP)- Weighted Average Method
	Units	% Materials	EUP- Materials	% Conversion	EUP-Conversion
Total units
Cost per Equivalent Unit of Production			Materials		Conversion
Total costs		Costs		Costs
Equivalent units of production		EUP		EUP
Cost per equivalent unit of production (rounded to 2 decimals)			0		0
Total Costs Accounted for:
Cost of units transferred out:	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total costs transferred out
Costs of ending work in process	EUP	Cost per EUP	Total cost
Direct materials		$0.00
Conversion		$0.00
Total cost of ending work in process
Total costs accounted for