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help a b please 2. (10 points) Bio Doc Corporation is a biotech company based in Milpitas. It makes a cancer- treatment drug in a
help a b please
2. (10 points) Bio Doc Corporation is a biotech company based in Milpitas. It 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. Big Doc uses the FIFO method of process costing. The following information for July 2021 is available. Equivalent Units Direct Conversion Materials Costs 8,500 1,700 Work in process, July 1 Started during July Completed and transferred d out during July Work in process, July 31 Physical Units 8,500 35,000 33,000 10,5006 33,000 10,500 33,000 6,300 Degree of completion direct materials, 100%; conversion costs, 20%. Degree of completion: direct materials, 100%; conversion costs, 60%. Total costs for July 2021 Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for $63,100 45,510 $108,610 284,900 485,040 $878,550 (Show all your work from Steps 1 to 5 of Process Costing using the FIFO method.) a. Calculate the cost per equivalent unit for direct materials and conversion costs. b. Summarize total costs to account for, and assign total costs to units completed (and transferred out) and to units in ending work in process. 2. (10 points) Bio Doc Corporation is a biotech company based in Milpitas. It 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. Big Doc uses the FIFO method of process costing. The following information for July 2021 is available. Equivalent Units Direct Conversion Materials Costs 8,500 1,700 Work in process, July 1 Started during July Completed and transferred d out during July Work in process, July 31 Physical Units 8,500 35,000 33,000 10,5006 33,000 10,500 33,000 6,300 Degree of completion direct materials, 100%; conversion costs, 20%. Degree of completion: direct materials, 100%; conversion costs, 60%. Total costs for July 2021 Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for $63,100 45,510 $108,610 284,900 485,040 $878,550 (Show all your work from Steps 1 to 5 of Process Costing using the FIFO method.) a. Calculate the cost per equivalent unit for direct materials and conversion costs. b. Summarize total costs to account for, and assign total costs to units completed (and transferred out) and to units in ending work in processStep by Step Solution
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