Required information [The following information applies to the questions displayed below.) 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 FIFO method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production $ 0.00 Total costs to account for Total costs accounted for *Difference due to rounding cost/unit Unit Reconciliation Units to account for $ 0.00 Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method 1 % EUP % EUP. Units Materials Materials Conversion Conversion Equivalent units of production Cost per EUP Materials Conversior Costs EUP Costs EUP Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out EUP Cost per to EUP " Total cost Direct materials Conversion Total transferred out EUP Total cost Costs of ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Cost per EUP $ 0.00 $ 0.00 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 Total costs accounted for * Difference due to rounding cost/unit Unit reconciliation Units to account for $ 0.00 Total units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP) - FIFO method nits % EUP- % EUP- Materials Materials Conversion Conversion Equivalent units of production Cost per EUP Materials Conversion Costs EUP Costs EUP Total costs + Equivalent units of production Cost per EUP (rounded to 2 decimals) Cost assignment and reconciliation Costs transferred out 0 Cost per Total cost EUP Cost per EUP 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 Direct materials Conversion Total costs started and completed this period Total cost of work finished this period EUP Total cost Cost per EUP $ 0.00 $ 0.00 $ 0.00 EUP Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for Cost per Total cost EUP $ 0.00 $ 0.00
