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 2,000 20,000 5,000 Costs Beginning work in process inventory Direct materials Conversion $ 2,500 6,360 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added 35% Overhead applied (140% of direct labor) Total costs to account for Ending work in process inventory $ 8,860 168,000 199,850 279,790 $656,500 $ 84,110 Prepare a process cost summary report for this process using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Total Costs to Account for: Costs of beginning work in process $ 20,830 X Costs incurred this period 546,170 X Total costs to account for: $ 567,000 Total costs accounted for Difference due to rounding cost/unit $ 0 Unit Reconciliation: Units to account for: Beginning work in process inventory 2,000 Units completed and transferred out x 32,500 X Total units to account for 34,500 Total units accounted for: Beginning work in process inventory X 32,000 X Ending work in process 2,500 X Total units accounted for 34,500 Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP-Materials EUP- Conversion 32,000 100% % Conversion 100% 60% X 32,000 100% 2,500 34,500 Materials $ 18,550 X Units completed and transferred out 32,000 X Ending work in process 2,500 X Total units 34,500 Cost per Equivalent Unit of Production Cost of beginning work in process Cost of ending work in process Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs Accounted for: 1,500 33,500 Conversion $ 2,280 X 188,670 X $ 190,950 33,500 X 357,500 X Costs $ Costs EUP 376,050 34,500 X 10.90 EUP $ $ 5.70 Total Costs Accounted for: Cost per Cost of units transferred out: EUP Total cost EUP Direct materials $ 10.90 x 32,000 32,000 Conversion $ 5.70 Total costs transferred out Cost per Costs of ending work in process EUP Total cost EUP Direct materials 10.90 32,000 X $ 2,500 X $ Conversion 5.70 Total cost of ending work in process 0 Total costs accounted for $ 0