Direct Materials are added at the start of the process. Conversion costs are added evenly during the process. Using Weighted-average method of process costing. The following information is available.

Equivalent Units

Physical Units Direct Materials Conversion Costs

Work in Process, July 1 - 12500 12500 8750

Started during July - 50000

Completed and Trans in July - 42500 42500 42500

WIP, July 31 - 20000 20000 10000

Degree of Completion: 7/1 Direct Materials, 100%, conversion costs, 70%

Degree of Completion: 7/31 Direct Materials, 100%, Conversion costs, 50%

Total costs for July:

Wip, beginning:

Direct Materials - $75,000

Conversion Costs - $87,500 $162,500

Direct Materials added

During July- $350,000

Conversion Costs added

During July- $463,750

Total costs to account for- $976,250

1. Calculate cost per equivalent unit for direct materials and conversion costs
2. Summarize total costs to account for, and assign total costs to unit completed and transferred out and to units in ending work in process.