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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) 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. Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials co Conversion 34,000 EUP 34,000 EUP 4,500 EUP 2,700 EUP 38,500 EUP 36,700 EUP Costs per EUP Costs of beginning work in process Costs incurred this period Total costs Direct Materials Conversion $ 39,750 $ 4,400 376,050 197,450 $415,800 $ 201,850 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 4,000 34,500 34,000 4,500 Exercise 16-12 Weighted average: Completing a process cost summary LOC3 $ 4,000.00 34,500.00 38,500.00 $ Costs Charged to Production Costs of beginning work in process Costs incurred this period 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 Cost per EUP Materials Conversion Costs Costs EUP 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 Costs of ending work in process EUP Total cost Cost per EUP $ 0.00 $ 0.00 Direct materials Conversion Total ending work in process Total costs accounted for

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