St. Helena Olive Oil Company manufactures fine olive oil in two departments, Flavoring and Bottling. In the Flavoring Department, the oil is seasoned and aged in vats for a period of 3 days. In the Bottling Department, the olive oil is bottled, then sent to the finished goods warehouse. Labor and overhead are incurred uniformly through both processes. Materials are entered at the beginning of both processes. Cost and production data for the Flavoring Department for December are presented below. Prepare a process cost summary report for the Flavoring Department for December. $30,000 of materials cost) Cost data Beginning work in process inventory Materials Conversion costs $ 37,000 390,000 155,000 $ 582,000 Production data Beginning work in process (gallons) Gallons started into production Ending work in process (gallons) 5,000 (40% complete) 55,000 8,000 (25% complete) Process Cost Summary Dept Flavoring Date Dec Costs Charged to Production Costs of beginning work in process Direct materials Conversion Costs incurred this period Direct materials Conversion Total costs to account for Unit Information Units to account for Beginning work in process Units started this period Units accounted for Completed and transferred out Ending work in process Total units to account for Total units accounted for DM Conversion Equivalent Units of Production (EUP) Units completed and transferred out Units of ending work in process (qty x %) Direct materials aty Conversion Equivalent units of production (EUP) DM Cost per EUP Costs of begininng work in process Costs incurred this period Total costs EUP Cost per EUP Cost Assignment and Reconciliation Costs transferred out (cost of goods manufactured - quantity EUP x unit cost) Direct materials aty Conversion Costs of ending work in process Direct materials aty Conversion qty Total.costs accounted for