17-24 Weighted Average method, assigning costs.
Tomlinson Corporation is a biotech company based in Milpitas. It makes a cancer-treatment drug in a single processing department. Direct materials are added at the start of the process. Conversation costs are added evenly during the process. Tomlinson uses the weighted-average method of process costing. The following information for July 2014 is available.
													Equivalent Units
												Physical Units	Direct Materials	Conversation Costs
								Work in Process, July 1				8,700.00	8,700.00	2,175.00
Started during July				34,500.00
Completed and transferred out during July				32,000.00	3,200.00	3,200.00
Work in process, July 31				11,200.00	11,200.00	7,840.00
Total Costs for July 2014
Work in process, beginning
Direct materials				61,500.00
Conversion costs				43,200.00	104,700.00
Direct materials added during July					301,380.00
Conversation costs added during July					498,624.00
Total costs to account for					904,704.00
1. Calculate the cost per equivalent unit fir direct materials and conversion costs.
2. Summarize the total costs to account for, and assign them to units completed (and transferred out) and to units in ending work in process.