Exercise 16-12 Weighted average: Completing a process cost summary LO C3

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

Required information 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. Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials Conversion 32,000 EUP 32,000 EUP 2,500 EUP 1,500 EUP 34,500 EUP 33,500 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials Conversion $ 18,550 $ 2,280 357,500 188,670 $376,050 $190,950 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 2,000 32,500 32,000 2,500 Exercise 16-12 Weighted average: Completing a process cost summary LO C3 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Exercise 16-12 Weighted average: Completing a process cost summary LO C3 Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production $ 0.00 Total costs to account for Total costs accounted for *Difference due to rounding cost/unit Unit Reconciliation Units to account for $ 0.00 Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % EUP. % EUP. Materials Materials Conversion Conversion Equivalent units of production Cost per EUP Materials Conversion Costs EUP Costs EUP Total costs - Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation EUP Cost per EUP Total cost Costs transferred out Direct materials Conversion Total transferred out Cost per Total cost EUP Costs of ending work in process Direct materials Conversion Total ending work in process Total costs accounted for EUP $ 0.00 $ 0.00