The following partially completed process cost summary describes the July production activities of the Molding department...

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The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Materials Conversion Equivalent Units of Production Units transferred out 33,500 EUP 33,500 EUP Units of ending work in process 4,000 EUP 2,400 EUP Equivalent units of production 37,500 EUP 35,900 EUP Costs per EUP Direct Materials $ 34,050 367,200 Costs of beginning work in process Costs incurred this period Total costs $ 401,250 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process Conversion $ 3,780 190,080 $ 193,860 3,500 34,000 33,500 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 Total costs to account for $ 0.00 Total costs accounted for *Difference due to rounding cost/unit $ 0.00 Unit Reconciliation Units to account for Beginning work in process Units started this period Total units to account for Total units accounted for Ending work in process Completed and transferred out Total units accounted for The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Direct Materials Conversion Equivalent Units of Production Units transferred out 33,500 EUP 33,500 EUP Units of ending work in process 4,000 EUP 2,400 EUP Equivalent units of production 37,500 EUP 35,900 EUP Costs per EUP Direct Materials $ 34,050 367,200 Costs of beginning work in process Costs incurred this period Total costs $ 401,250 Units in beginning work in process (all completed during July) Units started this period Units completed and transferred out Units in ending work in process Conversion $ 3,780 190,080 $ 193,860 3,500 34,000 33,500 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 Total costs to account for $ 0.00 Total costs accounted for *Difference due to rounding cost/unit $ 0.00 Unit Reconciliation Units to account for Beginning work in process Units started this period Total units to account for Total units accounted for Ending work in process Completed and transferred out Total units accounted for

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Solution Costs Charged to Production Costs of beginning goods in process 37830 Costs incurred this p... View the full answer