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# Exercise 16-16 Weighted average: Process cost summary LO C3 Elliott Company produces large quantities of a...

## Question

###### Exercise 16-16 Weighted average: Process cost summary LO C3 Elliott Company produces large quantities of a...

Exercise 16-16 Weighted average: Process cost summary LO C3

Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March.

 Units Costs Beginning work in process inventory 3,500 Beginning work in process inventory Started 35,000 Direct materials \$ 4,340 Ending work in process inventory 7,000 Conversion 13,608 \$ 17,948 Status of ending work in process inventory Direct materials added 237,440 Materials—Percent complete 100 % Direct labor added 221,795 Conversion—Percent complete 35 % Overhead applied (140% of direct labor) 310,513 Total costs to account for \$ 787,696 Ending work in process inventory \$ 83,356

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