The following partially completed process cost summary describe 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% of complete with respect to conversion. Prepare its process cost summary using the weighted average method Equivalent units of production Direct materials conversion Units transferred out 32000 32000 Units of ending work in process 2500 1500 Equivalent units of production 34500 34500 Cost per EUP Direct materials conversion Cost of beginning work in process 18220 2280 Costs incurred this period 357500 188670 Total costs 376050 190950 Units in beginning work in process (all completed during July) 2000 Units started this period 32500 Units completed and transferred out 32000 Units in ending work in process 2500