Problem 2 (25 Points) Elliott Company produces large quantities of a standardized prod following information is available for its production activities for March The Units Beginning work in process inventory Started this period Ending work in process inventory 2,000 20,000 5,000 Status of ending work in process inventory Direct Materials -Percent complete Conversion Percent complete 100% 35% Costs Beginning work in process inventory Direct materials Conversion $ 2,500 s 8,860 Direct materials added Direct labor added Overhead applied (140% of direct labor) Total costs to account for 168,000 199,850 279 790 s 84,110 Ending work in process inventory 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