The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning goods in process inventory is 20% complete with respect to direct labor and overhead.

Equivalent units of production Weighted average method Direct Materials Direct Labor Factory Overhead Units transferred out 32,000 32,000 32,000 Units of ending goods in process 2,500 1,500 1,500 Equivalent units of production 34,500 33,500 33,500

Costs Direct Materials Direct Labor Factory Overhead Costs of beginning goods in process $ 18,550 $ 760 $ 1,520

Costs incurred this period 357,500 62,890 125,780 Total costs $ 376,050 $ 63,650 $ 127,300

Units in beginning goods in process (all completed during July)	2,000
Units started this period	32,500
Units completed and transferred out	32,000
Units in ending goods in process	2,500