Required Information 2.5 The following information applies to the questions displayed below.] points The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Materials Conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production 42,000 EUP 42,000 EUP 3,500 EUP 2,100 EUP 45,500 EUP 44,100 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials Conversion $ 32,950 $ 4,260 531,250 308,850 $ 564.200 $313, 110 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,000 42,500 42.000 3.500 Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Answer is not complete. Costs Charged to Production Costs of beginning work in process S 37,210.00 Costs incurred this period 840,100.00 Total costs to account for S 877,310.00 Total costs accounted for 117,320.00 Difference due to rounding cost/unit S 759.990.00 Unit Reconciliation Units to account for Beginning work in process 3,000 Units started this period 42,500 Total units to account for 45,500 Total units accounted for Completed and transferred out 42.000 Ending work in process 3,500 Total units accounted for 45,500 Equivalent Units of Production (EUP)-Weighted Average Method Units Materials Units to complete beginning work in process X 3,000 X 0% Units to complete beginning work in process X 39,000 X 100% Equivalent units of production 42,000 Cost per EUP EUP- Conversion X % Conversion 80% 100% EUP. Materials 0 X 39,000 X 39,000 Materials X Conversion OO Cost of beginning work in process Costs incurred this period Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs EUP Costs EUP Cost per Total cost Costs transferred out Direct materials Conversion Total transferred out EUP EUP 3,500 S 12.50 $ 43,750.00 2,100 $ 7.10 14.910.00 S 58,660.00 EUP Cost per $ Costs of ending work in process Direct materials Conversion Total ending work in process Total costs accounted for 3,500 2,100S EUP 12.50 7.10 Total cost 43,750.00 14.910.00 58,660.00 S 117.320.00
