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 the Molding department at Ashed 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 44,000 EUP 44,000 EUP Units of ending work in process 4,000 EUP 2,400 EUP Equivalent units of production 48,000 EUP 46,400 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Direct Materials $ 40,350 574,050 Conversion $ 5,250 342,750 Total costs $ 614,400 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 $348,000 3,500 44,500 44,000 4,000 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.) Costs Charged to Production Total costs to account for Total costs accounted for "Difference due to rounding costunit Unit Reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP-Material % Conversion EUP-Conversion Equivalent units of production Cost per EUP Materialc Total costs + Equivalent units of production Costs EUP Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transfered out EUP Cost per EUP Total cost Direct materials Conversion Total transferred out Costs of ending work in process EUP Cost per EUP Total cost Direct materials Conversion Total ending work in process Total costs accounted for Costs EUP Conversion