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 beyins. Beyinining work in process inventory is 20% complete with respect to conversion. Equivalent Tits of Production Units transferred out Uisu ning wuk in process Equivalent units of production Direct Materiale 32.000 E.P 2,1000P 34,500 ELP version 32.000 E.P 1,500L P 93,500 E.P Costs oer EUP Casts af beginning work in arocess Coste incurred this period Tolel vesls Direct Materials # 18,550 357,500 Conversion $ 2.280 138,670 $ 1:10,950 Units in beginning work in process all cho leted during July Uni. Ylarled this ver Inits complete and transferred out Unile in eming work in ProLESS $2,500 32 000 Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) $ 1 Units 2,000 32,500 2,500 37.000 % Materials 100% 100% 100% EUP-Materials 2,000 32,500 2,500 37 0001 % Conversion 100% 100% 60% $ EUP-Conversion 2.000 32,000 1,500 35,500 Conversion $ Costs Charged to Production Costs of beginning work in process Costs incurred this period Total costs to account for Total costs accounted for Difference due to rounding cost/unit Unit reconciliation Units to account for Beginning work in process Units started this period Total units to account for Total units accounted for Compleled and transferred uul Ending work in process Total units accounted for $ Materials 357 500 357,500 33,500 10.67 Costa EUP S Coats EUP 188,670 188,670 31,500 5.47 $ $ EUP Cost per EUP Total cost Equivalent units of production (EUP) - FIFO method 20,830.00 5 46.170.00 units of beginning work in process Units completed and transferred cut 567,000.00 Units of ending work in process 594,290.00 Total (27,290.00) Cost per EUP Costs incurred this period Total ccata 2,000 - Equivalent units of production 32.500 Cost per EUP (rounded to 2 decimals) Cost assignment and reconciliation Costs transferred out 32.000 Cost of beginning work in proces Cost to complete beginning work in process 2,500 . Direct materials 34,500 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 poriod Total cost of work finished this period Costs of ending work in process Direct maleries Conversion Total cost of ending work in process Total costs accounted for $ 32,000 32,000 $ $ 10.67 5.70 341,440.00 182,400.00 523,840.00 EUP Cost per EUP $ 10.67 $ 5.70 2,500 1,500 $ Total cost 25,675.00 3,550.00 35,225.00 559,065.00 $ EUP Cost per EUP $ 10.67 $ 5.70 2,500 1,500 $ Total cost 28,675.00 3,550.00 35,225.00 594,290.00 $