Equivalent Units Physical Direct Conversion Units Materials Costs Work in process, July 1a 12,800 12,800 8,960 Started during July 49,800 Completed and transferred out during July 42,300 42,300 42,300 Work in process, July 316 20,300 20,300 12,180 Degree of completion: direct materials, 100%; conversion costs, 70%. "Degree of completion: direct materials, 100%; conversion costs, 60%. Total Costs for July 2018 Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for $ 75,300 88,500 $ 163,800 390,000 462,750 $ 1,016,550 Bio Tech 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 Tech uses the weighted average method of process costing. The following information for July 2018 is available: (Click the icon to view the data.) (Click the icon to view the total costs.) Required 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.) Physical Equivalent Units Direct Conversion Materials Costs Flow of Production Units 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 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 Direct Conversion Costs Materials 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 Conversion Materials 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