Exercise 3-12 Weighted average: Completing a process cost summary LO C3 The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Equivalent Units of Production Units transferred out Direct Materials Conversion 39.500 39,500 Units of ending work in process 4,000 2,400 Equivalent units of production 43,500 41,900 Direct Costs per EUP Materials Conversion Costs of beginning work in process Costs incurred this period $ 25,300 S 2.955 609,800 223.305 Total costs $ 635,100 $ 226,260 Units in beginning work in process (all completed during July) 3,500 Units started this period 40,000 Units completed and transferred out 39.500 Units in ending work in process 4,000 Prepare its process cost summary using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production Costs of beginning work in process Costs incurred this period A 28,255.00 Total costs to account for $ 28,255.00 Total costs accounted for "Difference due to rounding cost/unit S 0.00 Unit Reconciliation Units to account for Beginning work in process Units started this period Total units to account for 3,500 40,000 43,500 Total units accounted for Completed and transferred out 39,500 Ending work in process 4,000 Total units accounted for 43,500 Equivalent Units of Production (EUP)- Weighted Average Method Units % Materials EUP-Materials % Conversion Units completed and transferred out Units of ending work in process Equivalent units of production 39,500 100% 39,500 100% 4,000 100% 4,000 80% 43,500 43,500 Cost per EUP Materials Total costs Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs EUP D Costs transferred out EUP Cost per EUP Total cost Direct materials Conversion Total transferred out Costs of ending work in process EUP Cost per EUP Total cost $ 0.00 Direct materials 0.00 Conversion Total ending work in process Total costs accounted for Costs EUP EUP Conversion 39,500 2,400 41,900 Conversion D