Exercise 3-16 (Algo) Weighted average: Production cost report LO P2 Elliott Company produces large quantities of a standardized product. The following information is available for its first production department for March. Prepare a production cost report for this department using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ELLIOTTCOMPANY-FirstDepartmentProductionCostReport-WeightedAverageMethodForMonthEndedMarch31} \\ \hline Unit Reconciliation: & \\ \hline Units to account for: & \\ \hline & \\ \hline & \\ \hline Total units to account for & \\ \hline Units accounted for: & \\ \hline & \\ \hline Total units accounted for & \\ \hline Equivalent Units of Production (EUP) & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline & \multirow[b]{2}{*}{ Units } & \multicolumn{2}{|c|}{ Direct Materials } & \multicolumn{2}{|c|}{ Conversion } \\ \hline & & % Complete & EUP & % Complete & EUP \\ \hline \\ \hline & & & & & \\ \hline \multicolumn{6}{|l|}{ Equivalent Units of Production } \\ \hline Cost per Equivalent Unit of Production & & & Direct Materials & & Conversion \\ \hline \\ \hline \multicolumn{6}{|l|}{7} \\ \hline Total costs & & Costs & & Costs & \\ \hline Equivalent units of production & & EUP & & EUP & \\ \hline \multicolumn{6}{|c|}{ Cost per equivalent unit of production (rounded to 2 decimals) } \\ \hline \multicolumn{6}{|l|}{ Cost Assignment } \\ \hline Completed and transferred out & EUP & Cost per EUP & Total cost & & \\ \hline \multicolumn{5}{|l|}{ Direct materials } & \\ \hline \multicolumn{5}{|l|}{ Conversion } & \\ \hline Ending work in process & EUP & Cost per EUP & Total cost & & \\ \hline \multicolumn{5}{|l|}{ Direct materials } & \\ \hline \multicolumn{5}{|l|}{ Conversion } & \\ \hline Total costs accounted for & & & & & \\ \hline \end{tabular}