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 $ 6, 320 13,728 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 $ 20,048 313, 120 240,040 336,056 $ 909, 264 $ 94,944 $ 20,048 $ 20,048 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: $ 01 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 Costs Costs EUP EUP 0 0 Cost per EUP Total cost Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs Accounted for: Cost of units transferred out: EUP Direct materials Conversion Total costs transferred out Costs of ending work in process EUP Direct materials Conversion Total cost of ending work in process Total costs accounted for Cost per EUP Total cost $ 0.00 $ 0.00