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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
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. Equivalent Units of Production Direct Materials Conversion Units transferred out 37,000 EUP 37,000 EUP Units of ending work in process 4,500 EUP 2,700 EUP Equivalent units of production 41,500 EUP 39, 700 EUP Costs per EUP Costs of beginning work in process costs incurred this period Total costs Direct Materials $ 41,850 431,250 $ 473,100 Conversion $4,880 237,290 $242,170 Units in beginning work in process (all completed during July) 4,000 Units started this period 37,500 Units completed and transferred out 37,000 Units in ending work in process 4,500 Prepare its process cost summary using the weighted-average method. (Round "Cost pe EUP" to 2 decimal places.) EUP-Materials % Conversion EUP- Conversion Costs Charged to Production Costs of beginning work in process Costs incurred this period Total costs to account for Total costs accounted for Difference due to rounding cost/unit Unit Reconciliation Units to account for Beginning work in process Units started this period Total units to account for Total units accounted for Completed and transferred out Ending work in process Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials Units completed and transferred out Units of ending work in process Equivalent units of production Cost per EUP Cost of beginning work in process Costs incurred this period Total costs Costs - Equivalent units of production EUP Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out EUP Cost per EUP Direct materials Conversion Total transferred out Costs of ending work in process EUP Cost per EUP Direct materials Conversion Total ending work in process Total costs accounted for Materials Conversion Costs EUP Total cost Total cost
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