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 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 Units transferred out Units of ending work in process Equivalent units of production Direct Materiale Conversion 36,000 EUR 36,000 EUP 3.500 EUR 2.100 EUP 39,500 EUP 38,100 EUP Costa per TUP Coats of beginning work in process Costs incurred this period Total costo Direct Materiala $ 29,950 412.450 $442.400 Conversion $ 3,540 221,250 $ 224,790 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Unitsin ending work in process 3,000 36,500 36.000 3,500 Exercise 16-13A FIFO: Completing a process cost summary LO C3 C4 Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Answer is not complete. Cocharged to Production Cotoning work in proces 33.490.00 Exercise 16-13A FIFO: Completing a process cost summary LO C3 C4 3 Ints. Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Answer is not complete. $ 33,490.00 633,700.00 $ 667,190.00 $ 0.00 Costs Charged to Production Cost 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) - FIFO method 3,000 36,500 39,500 36,000 3,500 39,500 Units % Materials EUP Materials % Conversion EUP. Conversion X 36,000 3,500 39,500 100% 60% Costs incurred this period Units completed and transferred out Units of ending work in process Total Cost per EUP Cost of ending work in process Total costs Equivalent units of production Cost per EUP (rounded to 2 decimals) 3,500 3,500 Materials 2.100 2.100 Conversion Costs Costs EUP EUP 0 20 En Required information Materials Conversion 36,000 3,500 39,500 100% 60% 3,500 3,500 Materials 2,100 2,100 Conversion x Costs Costs EUP EUP 0 0 Cost per EUP Total cost EUP Costs incurred this period Units completed and transferred out Units of ending work in process Total Cont par EUP Cost of ending work in process Total costs - Equivalent units of production Cost per EUP (rounded to 2 decimals) Cost assignment and reconciliation Costs transferred out 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 Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for Cost per EUP Total cost 36,000 $ 36,000 $ EUP 0.00 0.00 S 0.00 EUP Cost per EUP Total cost 3.500 $ 2,100 S 0.00 0.00 0.00 0.00 IS
