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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 Direct Materials Conversion Units transferred out 39,000 EUP 39,000 EUP Units of ending work in process 3,500 EUP 2,100 EUP Equivalent units of production 42,500 EUP 41,100 EUP Costs per EUP Direct Materials Conversion Costs of beginning work in process $ 31,450 $ 3,900 Costs incurred this period 470,050 263,250 Total costs $ 501,500 $ 267,150 Units in beginning work in process (all completed during July) 3,000 Units started this period 39,500 Units completed and transferred out 39,000 Units in ending work in process 3,500

Exercise 20-12 Weighted average: Completing a process cost summary LO C3 Prepare its process cost summary using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Costs Charged to Production $ 0.00 Total costs to account for Total costs accounted for *Difference due to rounding cost/unit Unit Reconciliation Units to account for $ 0.00 Total units to account for Total units accounted for Total units accounted for Equivalent Units of Production (EUP)-Weighted Average Method Units % Materials EUP- Materials % Conversion EUP- Conversion Equivalent Units of Production (EUP)- Weighted Average Method Units % Materials EUP- Materials % Conversion Ion EUP- ca Conversion Equivalent units of production Cost per EUP Materials Conversion Costs EUP Costs EUP 0 Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment and Reconciliation Costs transferred out Direct materials Conversion Total transferred out EUP Cost per EUP Total cost EUP Total cost Costs of ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Cost per EUP $ 0.00 $ 0.00

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