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 40,500 EUP 40,500 EUP Units of ending work in process 2,500 EUP 1,500 EUP Equivalent units of production 43,000 EUP 42,000 EUP Costs per EUP Direct Materials Conversion Costs of beginning work in process $ 20,100 $ 2,720 Costs incurred this period 500,200 282,880 Total costs $ 520,300 $ 285,600 Units in beginning work in process (all completed during July) 2,000 Units started this period 41,000 Units completed and transferred out 40,500 Units in ending work in process 2,500

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		40,500	EUP		40,500	EUP
Units of ending work in process		2,500	EUP		1,500	EUP
Equivalent units of production		43,000	EUP		42,000	EUP

Costs per EUP	Direct Materials				Conversion
Costs of beginning work in process		$	20,100			$	2,720
Costs incurred this period			500,200				282,880
Total costs		$	520,300			$	285,600

Units in beginning work in process (all completed during July) 2,000

Units started this period 41,000

Units completed and transferred out 40,500

Units in ending work in process 2,500

Costs Charged to Production
Cost of beginning work in process	$2,000.00
Units of beginning work in process	41,000.00
Total costs to account for	$43,000.00
Total costs accounted for
* Difference due to rounding cost/unit	$0.00
Unit reconciliation
Units to account for
Completed and transferred out	40,500
Ending work in process	2,500
Total units to account for	43,000
Total units accounted for
Total units accounted for
Equivalent units of production (EUP) - FIFO method
	Units	% Materials	EUP- Materials	% Conversion	EUP- Conversion
Total
Cost per EUP			Materials		Conversion
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				$22,820.00
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				$22,820.00
Costs of ending work in process	EUP	Cost per EUP	Total cost
Direct materials		$0.00
Conversion	16,600	$0.00
Total cost of ending work in process
Total costs accounted for