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 Materials 43,500 EUP 3.500 EUP 47,000 EUP Conversion 43,500 EUP 2,100 EUP 45,680 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials $ 33,700 563200 $ 596,900 Conversion $ 4,440 333,000 $ 337,440 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 3,000 44,000 43,500 3,500 Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Answer is not complete. Costs Charged to Production Cost of beginning work in process Costs incurred this period Total costs to account for Total costs accounted for $ 38,140.00 896,200.00 5 934,340.00 * Answer is not complete. S 38.140.00 896,200.00 $ 934,340.00 S 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 costunit 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 44,000 47,000 DIS 43,500 3,500 47.000 Units * Materials 0% 100% 3,000 40,500 3 500 47 000 Conversion 80% 100% 60% 100% Units of beginning work in process Units started and completed Units of ending work in process Total Cost per EUP Costs incurred this period Total costs -Equivalent units of production Coul per EUP (rounded to 2 decimals) EUP Materials 0 40,500 3,500 44,000 Materials 563,200 $ 563.200 44,000 S 1280 EUP. Conversion 2.400 40.500 2.100 45,000 Conversion 333,000 5 333.000 45,000 $ 7.40 > Costs EUP Costs EUP Naut Required information > $ Materials 563 200 563.200 44,000 12.80 Costs EUP $ Costs EUP Conversion 333,000 333,000 45,000 7.40 $ $ EUP Cost per Total cost EUP 538,140.00 40.500 $ 40.500 IS 12 80 7.40 $ 518,400.00 299,700,00 Cost per EUP Costs incurred this period 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 materiais 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 $ 818.100.00 EUP Total cost Cost per EUP $ 12.80 $ 7.40 $ 856,240.00 EUP Cost per Total cost S EUP 12.80 7.40 5
