Exercise 3-18 (Algo) Weighted average: Production cost report LO P2 Elliott Company produces large quantities of a standardized product. The following information is available for its first production department for March. Prepare a production cost report for this department using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for nit Reconciliation: mits to account for: Beginning work in process Units started this period Direct Materials Conve Units Percent Perc Complete Comp 2,500 25,000 22,500 5,000 100% 35% $ 4,925 6,240 $ 11,165 174,100 412,800 586,900 $ 598,065 ELLIOTT COMPANY-First Department Production Cost Report - Weighted Average Metho For Month Ended March 31 2,500 25,000 27,500 Total units to account for its accounted for: Completed and transferred out 22,500 inding work in process 5,000 al units accounted for 27,500 ivalent Units of Production (EUP) Direct Mate Units % Complete 100% Exercise 3-18 (Algo) Weighted average: Production cost report LO P2 Elliott Company produces large quantities of a standardized product. The following information is available for its first production department for March. Prepare a production cost report for this department using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for nit Reconciliation: mits to account for: Beginning work in process Units started this period Direct Materials Conve Units Percent Perc Complete Comp 2,500 25,000 22,500 5,000 100% 35% $ 4,925 6,240 $ 11,165 174,100 412,800 586,900 $ 598,065 ELLIOTT COMPANY-First Department Production Cost Report - Weighted Average Metho For Month Ended March 31 2,500 25,000 27,500 Total units to account for its accounted for: Completed and transferred out 22,500 inding work in process 5,000 al units accounted for 27,500 ivalent Units of Production (EUP) Direct Mate Units % Complete 100%