help 17-18 only

st U 17-18 Standard-costing method, assigning costs. Refer to the information in Exercise 17-16. Sup- pose Bio Doc determines standard costs of $6.60 per equivalent unit for direct materials and $10.40 per equivalent unit for conversion costs for both beginning work in process and work done in the current period. Required 1. Do Exercise 17-16 using the standard-costing method. Note 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. 2. Compute the total direct materials and conversion costs variances for July 2018, dato for the 17-16 Weighted average method, assigning costs. Bio Doc 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 Doc uses the weighted-average method of process costing. The following information for July 2018 is available: LO 3 1. Equivalent units of conversion costs, 52,500 E Equivalent Units Direct Conversion Materials Costs 12,500 8,750 Physical Units Work in process, July 1" 12,500 Started during July 50,000 Completed and transferred out during July 42,500 Work in process, July 31 20,000 *Degree of completion direct materials, 100%; conversion costs, 70%. 'Degree of completion: direct materials, 100%; conversion costs, 50% 42,500 20,000 42,500 10,000 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 $75,000 87,500 $162,500 325,000 463,750 $951,250 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