Learning Tree 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. Learning Tree 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.$)$

Read the requirements.

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.

$\backslash$table$[[,\backslash$table$[[$Total$],[$Production Costs$]],\backslash$table$[[$Direct$],[$Materials$]],\backslash$table$[[$Conversion$],[$Costs$]]],[$Completed and transferred out,$20000,,],[$Work in process, ending,,,$],[$Total costs to account for,,,$]]$

Data table

$\backslash$table$[[,$Equivalent Units$],[,\backslash$table$[[$Physical$],[$Units$]],\backslash$table$[[$Direct$],[$Materials$]],\backslash$table$[[$Conversion$],[$Costs$]],],[$Work in process, October $1,20,000a,20,000,17,000,],[$Started in October,$80,000,,,],[$Completed and transferred out during October,$25,000,25,000,25,000,],[$Work in process, October $31,75,000b,75,000,37,500,],[$a Degree of completion: direct materials, $100\%$; conversion costs, $85\%,,,,],[$begree of completion: direct materials, $100\%$; conversion costs, $50\%,,,,]]$

Clear all

Data table

Total Costs for October $2020$

Work in process, beginning

Direct materials

Conversion costs

$$8,000$

a

b

Direct materials added during October.

$10,000$$$18,000$

Conversion costs added during

October

Total costs to account for

$55,000$

$20,000$

$[20,000],[$$$,93,000]$

Requirements

Calculate cost per equivalent unit for direct materials and conversion costs.

Summarize total costs to account for and assign them to units completed $($and transferred out$)$ and to units in ending work$-$in$-$process inventory.