Exercise 20-16 Weighted average: Process cost summary units and costs LO C3 Elliott Company produces large quantities of a standardized product. The following information is available for its production activities for March Units Beginning work in process inventory Started Ending work in process inventory Costs Beginning work in process inventory 3,000 30,000 6,000 Direct materials Conversion $5,940 13,536 $ 19,476 237,600 179,580 251,412 Status of ending work in process inventory Materials-Percent complete Conversion-Percent complete 100 % 40 % Direct materials added Direct labor added Overhead applied (140% of direct labor) Total costs to account for $ 688,068 Ending work in process inventory $ 80,568