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 Direct materials Costs 4,000 Beginning work in process inventory 40,000 8,000 Conversion $ 6,320 13,728 $ 20,048 Direct materials added 313,120 100% Direct labor added 30% Overhead applied (140% of direct labor) Total costs to account for Ending work in process inventory 240,040 336,056 $909,264 $ 94,944 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: 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 0 0