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	Direct Materials			Conversion
Units transferred out		39,000	EUP		39,000	EUP
Units of ending work in process		3,500	EUP		2,100	EUP
Equivalent units of production		42,500	EUP		41,100	EUP

Costs per EUP	Direct Materials				Conversion
Costs of beginning work in process		$	31,450			$	3,900
Costs incurred this period			470,050				263,250
Total costs		$	501,500			$	267,150

Units in beginning work in process (all completed during July)	3,000
Units started this period	39,500
Units completed and transferred out	39,000
Units in ending work in process	3,500

Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.)

Costs Charged to Production
Cost of beginning work in process	$35,350.00
Costs incurred this period	733,300.00
Total costs to account for	$768,650.00
Total costs accounted for
* Difference due to rounding cost/unit	$0.00
Unit reconciliation
Units to account for
Units started this period	39,500
Beginning work in process	3,000
Total units to account for	42,500
Total units accounted for
Completed and transferred out	39,000
Ending work in process	3,500
Total units accounted for	42,500
Equivalent units of production (EUP) - FIFO method
	Units	% Materials	EUP- Materials	% Conversion	EUP- Conversion
Units of beginning work in process	3,000	0%
Units started and completed		100%
Units of ending work in process	3,500	100%
Total	6,500
Cost per EUP			Materials		Conversion
Costs incurred this period
Total costs		Costs		Costs
Equivalent units of production		EUP		EUP
Cost per EUP (rounded to 2 decimals)			0		0
Cost assignment and reconciliation
Costs transferred out	EUP	Cost per EUP	Total cost
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	EUP	Cost per EUP	Total cost
Direct materials		$0.00
Conversion		$0.00
Total costs started and completed this period
Total cost of work finished this period				$0.00
Costs of ending work in process	EUP	Cost per EUP	Total cost
Direct materials		$0.00
Conversion		$0.00
Total cost of ending work in process
Total costs accounted for