Process Costing: Average Costing Method Energy Products, Inc., makes high-vitamin, calorie-packed wafers that are populer among professional athletes because they supply quick energy. The company produces the waters in a continuous to d it uses a process costing system besed on the average costing methed. It recently purchased severel automated mechines so that the wafers can be preduced in a single materials are added at the beginning of the process. The costs for the machine operators' lobor and production-related overhead are incurred unformly throughout the process In February, the company put a total of 231,200 lters of direct materials into production at cost of $294,780. Two liters of direct materials were used to protuce one unit of output (one unit 144 materials and 20 percent complete for conversion costs. The total cost of those units was $55,000, 12,000 units was fully complete fer direct materials but only 30 percent complete for conversion costs . Direct lebor costs for Februery were $60,s30, and overheed was $181,590. The beginning werk in precess Iinventory for Feeruery was 14,000 units, which were 100 percent complete for direct $48,660 of which was assigned to the cost of direct materials. The ending work in process inventor 1. Using the average costing method and assuming no loss due to spolage, prepare donot enter the percent sign. For example, 60% would be entered as 60. process cost report for February. For per unit amounts, round to the nearest cent. for the percentages Energy Products, Inc. Process Cost Report-Average Costing Method For the Month Ended February 28 Physical Units: Beginning inventory Units started this periocd Units to be accounted for Units completed and transferred out