Chapter 16 Exercise 16-13A FIFO: Completing a process cost summary LO C3 C4 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. ent units of production e method) Direct Materials 32,000 2,500 Units transferred out Units of ending work in process 32,000 1,500 Equivalent units of production 34,500 33,500 Direct Materials Costs per EUP Costs of beginning work in process Costs incurred this period 18,550 $ 2,280 357,500 188,670 190,950 Total costs $376,050 S Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out32,000 Units in ending work in process 2,000 32,500 2,500 Prepare its process cost summary using the FIFO method. (Round "Cost per EUP to 2 decimal places.) to Costs incured this period Total costs to account for Total costs accounted for Difference due to rounding cost/unit 0.00 0.00 Units to account for Total units to account for Total units accounted for