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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 Units transferred out Units of ending work in process Equivalent units of production Direct Materials 44,000 EUP 4,000 EUP 48,000 EUP Conversion 44,000 EUP 2,400 EUP 46,400 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials $ 40,350 574,050 $ 614,400 Conversion $ 5,250 342,750 $ 348,000 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process 3,500 44,500 44,000 4,000 Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) EUP- Materials % Conversion EUP-Conversion Costs Charged to Production Costs of beginning work in process Costs incurred this period 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 Beginning work in process Units started this period Total units to account for Total units accounted for Beginning work in process Ending work in process Total units accounted for Equivalent Units of Production (EUP)- Weighted Average Method Units % Materials Units completed and transferred out Units to complete beginning work in process Equivalent units of production Cost per EUP Cost of beginning work in process YYYYYYYYYYYYYYYYY Costs incurred this period Total costs Costs - Equivalent units of production EUP Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out Cost per EUP EUP Direct materials Conversion Total transferred out Cost per Costs of ending work in process EUP EUP Direct materials 0.00 Conversion $ 0.00 Total ending work in process Total costs accounted for Materials Conversion Costs EUP 0 0 Total cost Total cost $
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