Bio Save 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 Save uses the first$-$in$,$ first$-$out $($FIFO$)$ method of process costing. The following information for July is available:BEB $($Click the icon to view the data.$)$BB: $($Click the icon to view total costs.$)$RequiredNote that you first need to calculate the equivalent units of work done in the current period $($for direct materials and conversion costs$)$ to complete beginning work in process, to start and complete new units, and to produce ending work in process.Requirement $1.$ Calculate the cost per equivalent unit for direct materials and conversion costs using the FIFO method.Enter the physical units first, and then calculate the equivalent units. $($Round your answers to the nearest whole unit. Enter an amount in each input cell.$)$Equivalent UnitsDirectConversionMaterialsCostsFlow of ProductionWork in process, beginningStarted during current periodTo account forCompleted and transferred out during current period:From beginning work in processStarted and completedPhysicalUnits$12,00048,60060,60012,000"28,500$'Work In Progress ending $2,100$ Accounted for $60,600$ Work done to date DataPhysicalUnitsWork in process, July $112,000$Started during July$48,600$Completed and transferred out during July$40,500$Work in process, July $31$b$20,100*$Degree of completion: direct materials, $100\%$; conversion costs, $70\%.$Degree of completion: direct materials, $100\%$; conversion costs, $65\%.$Equivalent UnitsDirectConversionMaterialsCosts$12,0008,40040,50020,10040,50013,065$Total costsTotal Costs for JulyWork in process, beginningDirect materials$$74,200$Conversion costs$87,300$$$161,500$Direct materials added during July$349,000$Conversion costs added during July$465,700$Total costs to account for$$976,200$