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 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 1,000 Beginning work in process inventory 10,000 Direct materials 2,000 Conversion Direct materials added 100% Direct labor added 40% Overhead applied (140% of direct labor) Total costs to account for Ending work in process inventory $2,000 3,240 $ 5,240 81,820 74, 110 103,754 $264,924 $ 30,024 Prepare a process cost summary report for this process using the weighted-average method (Round "Cost per EUP" to 2 decimal places.)