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Use the following information for the Exercises below. [The following information applies to the questions displayed below.] The following partially completed process cost summary describes
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] 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. Direct Conversion Equivalent Units of Production Units transferred out Materials 41,000 EUP 3,000 EUP 41,000 EUP Units of ending work in process 1,800 EUP Equivalent units of production 44,000 EUP 42,800 EUP Direct Materials $ 26,350 510,450 Conversion Costs per EUP Costs of beginning work in process S 3,450 291,870 Costs incurred this period $536,800 $295,320 Total costs 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 2,500 41,500 41,000 3,000 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production Total costs to account for Total costs accounted for *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)- Weighted Average Method EUP- EUP- Materials% Conversion Units % Materials Conversion Equivalent units of production Cost per EUP Conversion Materials Materials Cost per EUP Conversion Total costs Costs Costs Equivalent units of production EUP EUP Cost per equivalent unit of production Cost Assignment and Reconciliation Cost per EUP Costs transferred out EUP Total cost Direct materials Conversion Total transferred out Cost per EUP Costs of ending work in process Total cost EUP Direct materials Conversion Total ending work in process Total costs accounted for
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