Question

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    (weighted-average method)	Direct Materials		Conversion
Units transferred out	32,500		32,500
Units of ending work in process	2,600		1,560
Equivalent units of production	35,100		34,060

Costs per EUP	Direct Materials		Conversion
Costs of beginning work in process	$	19,000	$	2,325
Costs incurred this period		367,500		193,170
Total costs	$	386,500	$	195,495

Units in beginning work in process   (all completed during July)	2,100
Units started this period	33,000
Units completed and transferred out	32,500
Units in ending work in process	2,600

Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.)

Answer 1