Required information Use the following information for the Exercises below. [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 Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials Conversion 37,000 EUP 37,000 EUP 4,500 EUP 2,700 EUP 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) Units started this period Units completed and transferred out Units in ending work in process 4,000 37,500 37,000 4,500 Exercise 16-12 Weighted average: Completing a process cost summary LO C3 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Required information 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 EUP-Materials % Conversion Units to complete beginning work in process Units completed and transferred out Equivalent units of production Cost per EUP Materials Costs incurred this period EUP. Conversion Conversion Costs Costs EUP EUP Total costs - Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation EUP. Conversion Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP-Materials % Conversion Units to complete beginning work in process Units completed and transferred out Equivalent units of production Cost per EUP Materials Costs incurred this period Conversion Costs Costs EUP EUP Cost per EUP Total cost EUP Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out Direct materials Conversion Total transferred out Costs of ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Cost per EUP Total cost EUP
