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 work in process inventory is 20% complete with respect to conversion.

Equivalent Units of Production	Direct Materials			Conversion
Units transferred out		44,000	EUP		44,000	EUP
Units of ending work in process		4,000	EUP		2,400	EUP
Equivalent units of production		48,000	EUP		46,400	EUP

Costs per EUP	Direct Materials				Conversion
Costs of beginning work in process		$	40,350			$	5,250
Costs incurred this period			574,050				342,750
Total costs		$	614,400			$	348,000

Units in beginning work in process (all completed during July)	3,500
Units started this period	44,500
Units completed and transferred out	44,000
Units in ending work in process	4,000

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

Costs Charged to Production Total costs to account for 0.00 Total costs accounted for 0.00 Difference due to rounding cost/unit Unit reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP) - FIFO method