Refer to the information in Exercise. Prepare a process cost summary using the FIFO method. (Round cost per equivalent unit calculations to two decimal places.)
In Exercise 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. Prepare its process cost summary using the weighted-average method.

Direct Materials Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Conversion 32,000 EUP 32,000 EUP 2.500 EUP 500 EUP Direct Materials Costs per EUP Costs of beginning work in process.. Costs incurred this period. Total costs Units in beginning work in process (all completed during July)....2,000 Units started this period Units compieted and transferred out Units in ending work in process Conversion 18,550 357,500 $2,280 88,670 $190,950 $376,050 32,500 .32,000 2,500