Dave and Missy Corporation makes interlocking children's blocks in a single processing department. Direct materials are added at the start of production. Conversion costs are added evenly throughout production. Dave and Missy uses the weighted-average method of process costing. The following information for October 2020 is available. (Click the icon to view the equivalent unit information.) |(Click the icon to view the cost information.) - X Data Table Data Table Total Costs for October 2020 Equivalent Units Physical Direct Conversion Work in process, beginning Direct materials $ Costs 6,000 30,000 36,000 35,000 Conversion costs Direct materials added during October Conversion costs added during October 40,000 Units Materials Work in process, October 1 50,0000 50,000 Started in October 65,000 Completed and transferred out during October 65,000 65,000 Work in process, October 31 50,000 50,000 aDegree of completion: direct materials, 100%; conversion costs, 70%. Degree of completion: direct materials, 100%; conversion costs, 30%. 65,000 15,000 90,000 $ 166,000 Total costs to account for Print Done Print Done Requirement 1. Summarize total costs to account for and calculate cost per equivalent unit for direct materials and conversion costs. Begin by summarizing total costs to account for. Total Direct Conversion Production Costs Materials Costs Total costs to account for Now calculate cost per equivalent unit for direct materials and conversion costs. (Round the cost per equivalent unit amounts to the nearest cent.) Direct Conversion Materials Costs Divide by Cost per equivalent unit Requirement 2. Assign total costs to units completed (and transferred out) and to units in ending work in process inventory. Total Direct Conversion Production Costs Materials Costs Completed and transferred out Work in process, ending Total costs accounted for