Problem 16-3A Weighted Average: Process cost summary, equivalent units LO C2, C3, P4 Fast Co psoduces its product through a single processing departeent Direct materials are added at the start of production, and conversion costs are added evenly throughout the process. The company uses montnly reporting periods for its weignbed-average process costing system. The Work in Process Inventory account has a balance of $92,300 ss of October 1, which consisted of $19,500 of direct materials and 572,800 of conversion costs During the month the company incurred the following costs: Direct materials $168.400 42 400 During Octobet, the company started 148,000 units and transtemed 158,000 units to fnished goods At the end of me more, to work n process rientry cossed of 23,200 utits hat were 80% complete wrn respect to conversion costs Prepare the company's process cost summary for October using the weighted-average methed. (Round Cont per EUP" t0 2 decimal places of begnring work in process his period 92,300 Total costs to account for Total costs accounted for Difflerence due to rounding costunit 2.300 Units to ae Beginning work in process inventory-units Total units to account for 181.2c0 Total units accounted for and trandfemed out Ending work in process-units Total units accounted fer quivalent %Materials is tup. Mete rials % Conversion nding wok in process-units 18.560 176,560 esc F2 FS -+ F6 8 4