The following partially completed process cost summary describesthe July production activities of Ashad Company. Its productionoutput is sent to its warehouse for shipping. All direct materialsare added to products when processing begins. Beginning work inprocess inventory is 20% complete with respect to conversion.Equivalent Units of Production Direct Materials Conversion Unitstransferred out 42,500 EUP 42,500 EUP Units of ending work inprocess 2,500 EUP 1,500 EUP Equivalent units of production 45,000EUP 44,000 EUP Costs per EUP Direct Materials Conversion Costs ofbeginning work in process $ 20,700 $ 2,880 Costs incurred thisperiod 541,800 313,920 Total costs $ 562,500 $ 316,800 Units inbeginning work in process (all completed during July) 2,000 Unitsstarted this period 43,000 Units completed and transferred out42,500 Units in ending work in process 2,500 Exercise 16-12Weighted average: Completing a process cost summary LO C3 Prepareits process cost summary using the weighted-average method. (Round"Cost per EUP" to 2 decimal places.)
