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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 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 35,500 EUP 35,500 EUP
Units of ending work in process 3,000 EUP 1,800 EUP
Equivalent units of production 38,500 EUP 37,300 EUP

Costs per EUP Direct Materials Conversion
Costs of beginning work in process $ 24,150 $ 2,900
Costs incurred this period 403,200 213,440
Total costs $ 427,350 $ 216,340

Units in beginning work in process (all completed during July) 2,500
Units started this period 36,000
Units completed and transferred out 35,500
Units in ending work in process 3,000

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

image text in transcribed

image text in transcribed

Costs Charged to Production $ 0.00 Total costs to account for Total costs accounted for *Difference due to rounding cost/unit Unit Reconciliation Units to account for CA $ 0.00 Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP-Materials % Conversion EUP-Conversion Equivalent units of production Cost per EUP Materials Conversion Costs Costs EUP EUP 0 Cost per EUP Total cost EUP Total costs - Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out Direct materials Conversion Total transferred out Costs of ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Cost per EUP Total cost $ $ EUP 0.00 0.00

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