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Elliott Company produces large quantities of a standardized product. The following information is available for its production activities for March. Units Costs Beginning work in

Elliott Company produces large quantities of a standardized product. The following information is available for its production activities for March.

Units Costs
Beginning work in process inventory 4,000 Beginning work in process inventory
Started 40,000 Direct materials $ 7,920
Ending work in process inventory 8,000 Conversion 18,720
$ 26,640
Status of ending work in process inventory Direct materials added 291,720
MaterialsPercent complete 100 % Direct labor added 273,400
ConversionPercent complete 25 % Overhead applied (140% of direct labor) 382,760
Total costs to account for $ 974,520
Ending work in process inventory $ 90,000

Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

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

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