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 3,000 Started 30,000 Ending work in process inventory 6,000 Costs Beginning work in process inventory Direct materials Conversion $ 3, 180 13,896 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete Direct materials added 100% Direct labor added Overhead applied (140% of 25% direct labor) Total costs to account for Ending work in process inventory $ 17,076 212,310 170,910 239, 274 $639,570 $ 61,500 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: $ 0 Total costs to account for: Total costs accounted for Difference due to rounding cost/unit Unit Reconciliation: Units to account for: $ 0 Total units to account for Total units accounted for: Total units accounted for Equivalent Units of Production (EUP)- Weighted Average Method Units EUP- % Materials Materials % EUP Conversion Conversion Total units Cost per Equivalent Unit of Production Materials Conversion Costs EUP 0 0 Total cost Total costs Costs - Equivalent units of production EUP Cost per equivalent unit of production (rounded to 2 decimals) Total Costs Accounted for: Cost per Cost of units transferred out: EUP EUP Direct materials Conversion Total costs transferred out Costs of ending work in process EUP EUP Direct materials $ 0.00 Conversion $ 0.00 Total cost of ending work in process Total costs accounted for Cost per Total cost