Bio Quest Corporation is a biotech company that makes a cancer-treatment drug in a single processing department. Direct materials are added at the start of the process. Conversion costs are added evenly during the process. Bio Quest uses the weighted-average method of process costing. The following information for July is available: (Click the icon to view the data.) (Click the icon to view the total costs.) Required Required 1. Calculate the cost per equivalent unit for direct materials and conversion costs. 2. Summarize total costs to account for, and assign total costs to units completed (and transferred out) and to units in ending work in process. Print Done Requirement Enter the phys Total costs Total Costs for July Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for Print $ 74.100 86,800 Done $ $ 160,900 349,500 456,800 967,200 - X process for July osts. o the nea Data Equivalent Units Physical Direct Conversion Units Materials Costs 11,500 11.500 8,050 Work in process, July 1 Started during July Completed and transferred out during July Work in process, July 31 48,500 40,000 40,000 40,000 20,000 10,000 20,000 b Degree of completion: direct materials, 100%; conversion costs, 70%. Degree of completion: direct materials, 100%; conversion costs, 50%. Print Done Su - XI Requirement 1. Calculate the cost per equivalent unit for direct materials and conversion costs. Enter the physical units first and then calculate the equivalent units. (Round your answers to the nearest whole unit.) Equivalent Units Physical Units Conversion Costs Flow of Production Work in process, beginning Started during current period To account for Completed and transferred out during current period Work in process, ending Accounted for Work done to date Direct Materials Requirement 2. Summarize total costs to account for, and assign total costs to units completed (and transferred out) and to units in ending work in process. Begin by summarizing the total costs to account for. Total Production Costs Direct Materials Conversion Costs Total costs to account for Next calculate cost per equivalent unit for direct materials and conversion costs. (Round your cost per equivalent unit to four decimal places.) Direct Materials Conversion Costs Divide by: Cost per equivalent unit for work done to date Finally, assign total costs to units completed (and transferred out) and to units in ending work in process. (Round your answers to the nearest whole dollar.) Total Production Costs Direct Materials Conversion Costs Total costs accounted for