Question: Please show work Exercise 16-16 Weighted average: Process cost summary LO C3 Elliott Company produces large quantities of a standardized product. The following information is

Please show workPlease show work Exercise 16-16 Weighted average: Process cost summary LO C3Elliott Company produces large quantities of a standardized product. The following information

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 its production activities for March. Units Costs ing work in process inventory 1,500 15,000 3,000 Be ning work in process inventory $ 2,640 5,148 Direct materials Started Ending work in process inventory Conversion 7,788 Status of ending work in process inventory Materials-Percent complete Direct materials added Direct labor added 105,930 93, 735 131,229 100% Conversion-Percent complete 20% Overhead applied (140% of direct labor) $338, 682 Total costs to account for $ 29,532 Ending work in process inventory Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Unit Reconciliation: Units to account for: Beginning work in process inventory 1,500 Units started this period 15,000 16,500 Total units to account for Total units accounted for: Units completed and transferred out 13,500 Ending work in process 3,000 Total units accounted for 16,500 Equivalent Units of Production (EUP)- Weighted Average Method EUP- Units % Materials EUP- Materials % Conversion Conversion Units completed and transferred out Total units to account for Total units Cost per Equivalent Unit of Production Cost of beginning work in process Costs incurred this period 13,500 100% 13,500 100% 13,500 3,000 20% 3,000 100% 600 16,500 14,100 16,500 Materials Conversion 2,640 Total costs Costs Costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) EUP EUP C 0 Total Costs Accounted for: Cost of units transferred out: Total cost EUP Cost per EUP Direct materials 13,500 13,500 Conversion Total costs transferred out Costs of ending work in process Total cost EUP Cost per EUP Direct materials 0.00 Conversion $ 0.00 Total cost of ending work in process Total costs accounted for

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