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 the products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.

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

Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does ! Required information [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. Direct Equivalent Units of Production Materials Conversion Units transferred out 39, 500 EUP 39, 500 EUP Units of ending work in process 4, 000 EUP 2, 400 EUP Equivalent units of production 43, 500 EUP 41, 900 EUP Direct Costs per EUP Materials Conversion Costs of beginning work in process $ 37, 650 Costs incurred this period 480, 000 5 4, 620 271, 920 Total costs $ 517, 650 $ 276, 540 Units in beginning work in process (all completed during July) Units started this period 3, 500 Units completed and transferred out 40, 000 Units in ending work in process 39, 500 4,000 Prepare itswork i Required information Costs Charged to Production Total costs to account for $ 0.00 Total costs accounted for * Difference due to rounding cost/unit $ 0.00 Unit reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP) - FIFO method Units % Materials EUP- Materials % Conversion EUP- Conversion Tota Cost per EUP Materials Conversion Total costs Costs Costs + Equivalent units of production EUP EUP Cost per EUP (rounded to 2 decimals) 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 Costs of ending work in process $ 0.00 EUP Cost per EUP Total cost Direct materials $ 0.00 Conversion 0.00 Total cost of ending work in process Total costs accounted for