I need help understanding the problem and how to calulate the numbers.
Required Information The following information applies to the questions displayed below.] The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Equivalent Units of Production Materials Conversion Units transferred out 37,500 EUP 87, 580 EUP Units of ending work in process 2,090 EUP 1, 280 EUP Equivalent units of production 39,500 EUP 38, 780 EUP Direct Costs per EUP Materials Conversion Costs of beginning work in process 13,450 1, 860 Costs incurred this period 449, 890 238, 080 Total costs 454, 250 $ 239,948 Units in beginning work in process (all completed during July) 1,506 Units started this period 38, 208 Units completed and transferred out 37,508 Units in ending work in process 2,090 Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production Total costs to account for S 0.00 Total costs accounted for Difference due to rounding cost/unit S 0.00 Unit reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP) - FIFO method Units % Materials EUP- Materials % Conversion EUP- Conversion Total Cost per EUP Materials Conversion Total costs Costs Costs + Equivalent units of production EUP EUP Cost per EUP (rounded to 2 decimals) 0 Cost assignment and reconciliation Costs transferred out EUP Cost per EUP Total cost Cost of beginning work in process Cost to complete beginning work in process Direct materials Conversion Total cost to complete beginning work in process Costs of units started and completed this period EUP Cost per EUP Total cost Direct materials S 0.00 Conversion 0.00 Total costs started and completed this period Total cost of work finished this period $ 0.00 Costs of ending work in process EUP Cost per EUP Total cost Direct materials S 0.00 Conversion S 0.00 Total cost of ending work in process Total costs accounted forRequired information [The following information applies to the questions displayed below.] The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Equivalent Units of Production Materials Conversion Units transferred out 37,500 EUP 87,500 EUP Units of ending work in process 2,000 EUP 1, 200 EUP Equivalent units of production 39, 500 EUP 38,700 EUP Direct Costs per EUP Materials Conversion Costs of beginning work in process $ 13, 450 $ 1, 860 Costs incurred this period 440, 800 238, 080 Total costs 454, 250 $ 239,940 Units in beginning work in process (all completed during July) 1, 500 Units started this period 38,000 Units completed and transferred out 37, 500 Units in ending work in process 2,000 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production Total costs to account for $ 0.00 Total costs accounted for Difference due to rounding cost/unit $ 0.00 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 Equivalent units of production Cost per EUP Materials Conversion Total costs Costs Costs - Equivalent units of production EUF EUF Cost per equivalent unit of production 0 Cost Assignment and Reconciliation Costs transferred out EUP Cost per EUP Total cost Direct materials Conversion Total transferred out Costs of ending work in process EUP Cost per EUP Total cost Direct materials $ 0.00 Conversion $ 0.00 Total ending work in process Total costs accounted for
