Exercise 20-16 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			Costs
Beginning work in process inventory	2,000		Beginning work in process inventory
Started	20,000		Direct materials	$	2,500
Ending work in process inventory	5,000		Conversion		6,360
							$	8,860
Status of ending work in process inventory			Direct materials added					168,000
MaterialsPercent complete	100	%	Direct labor added					199,850
ConversionPercent complete	35	%	Overhead applied (140% of direct labor)					279,790
			Total costs to account for				$	656,500
			Ending work in process inventory				$	84,110

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