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 Unite Beginning work in process inventory Started Ending work in process inventory Cost 500 Beginning work in process inventory Direct materials 5,000 1,000 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Conversion Direct materials added 100% Direct labor added 30% Overhead applied (140% of direct labor Total costs to account for Ending work in process inventory 505 2,053 3.557 33,595 31,785 44,499 $112,436 Prepare a process cost summary report for this process using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) 4 11,094 Total Costs to Account for Total costs to account for Submit Check my work Total Costs to Account for: Total costs to account for: Total costs accounted for Difference due to rounding cost/unit Unit Reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Equivalent Units of Production (EUP)- Weighted Average Method + zes Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Total units Cost per Equivalent Unit of Production 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 Direct materials Conversion Units %Materials Costs EUP EUP-Materials % Conversion EUP-Conversion Materiale EUP Cost per EUP Total cost Total costs transferred out EUP Cost per EUP Total cost Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for Costs EUP Conversion Check my work