excercise 16-16 weighted average: Process cost summary

Exercise 16-16 Weighted average: Process cost summary LO C3 Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March 2.000 20,000 Units Beginning work in process inventory Started Ending work in process inventory Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Costs Beginning work in process inventory Direct materials Conversion Direct materials added 100% Direct labor added zex Overhead applied (140% of direct labor) Total costs to account for Ending work in process Inventory $ 3,860 2.248 $ 11,100 141, 120 136,100 190.540 $475,868 $ 40,568 Prepare a process cost summary report for this process using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Total Costs to Account for Costs of beginning work in process Costs incurred this period Total costs to account for Total costs accounted for UZU Saved Help % Materials EUP-Materials % Conversion EUP.Conversion Units to account for: Beginning work in process inventory 2,000 Units started this period 20,000 Total units to account for 22,000 Total units accounted for: Units completed and transferred out Ending work in process Total units accounted for Equivalent Units of Production (EUP) Weighted Average Method Units Units completed and transferred out Ending work in process Total units Cost per Equivalent Unit of Production Cost of beginning work in process Costs incurred this period Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs Accounted for: Cost of units transferred out EUP Direct materials Materials Conversion Costs EUP Costs EUP Cost per EUP Total cost