Exercise 3-16 (Algo) Weighted average: Production cost report LO P2 Elliott Company produces large quantities of a standardized product. The following information is avaliable for its first production department for March. Prepare a production cost report for this department using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Units 3,000 30,000 27,000 6,000 Direct Materials Conversion Percent Percent Complete Complete 100% 35% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 3,270 8,928 229,380 452,016 $ 12,198 681,396 $ 693,594 Answer is complete but not entirely correct. ELLIOTT COMPANY-First Department Production Cost Report-Weighted Average Method For Month Ended March 31 Unit Reconciliation: Units to account for: Beginning work in process Units started this period 3,000 30,000 00 Total units to account for 33,000 Units accounted for Completed and transferred out 27,000 6 Ending work in process 6,000 ( 00 Total units accounted for 33,000 Equivalent Units of Production (EUP) Completed and transferred out Ending work in process Units 27,000 6.000 Direct Materials % Complete 100% 100% 00 EUP 27,000 6,000 Conversion Complete EUP 100% 27,000 30% 1,800 Unit Reconciliation: Units to account for: Beginning work in process Units started this period Total units to account for Units accounted for: Completed and transferred out 2022 Production Cost Report-Weighted Average Method For Month Ended March 31 00 33333 3,000 30,000 33,000 27,000 Ending work in process 6,000 Total units accounted for 33,000 Equivalent Units of Production (EUP) Direct Materials Conversion Units % Complete EUP EUP Complete Completed and transferred out i 27,000 100% 27,000 100% 27,000 Ending work in process 6,000 100% 6,000 30% * 1,800 Equivalent Units of Production 33,000 33,000 28,800 Cost per Equivalent Unit of Production Direct Conversion Materials Costs of beginning work in process S 5,160 S. 11,736 Costs added this period 193,830 444,456x Total costs Costs 15 198,990 Costs S 456,192 -Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Cost Assignment Completed and transferred out EUP 33,000 EUP 28,800 6.03 S 15.84 EUP Cost per EUP Total cost Direct materials Conversion 27,000 $ 27,000 $ 6.03 15.84 $ 162.810 427,680 $ 590,490 Ending work in process EUP Cost per EUP Total cost Direct materials 6,000 $ 6.03 S 36,180 Conversion 1,800 S 15.84 28,512 64,692 Total costs accounted for $655,182