Millennial Textiles Company makes silk banners and uses the weighted average method of process costing. Direct materials are added at the beginning of the proce and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of atz net disposal value. (Click the ice Determine the ed Data table bf abnormal spoilage, and the - Direct Materials $125,000 Conversion Costs $8,000 $190,000 $28,000 Physical Units Determine the ed (Banners) Enter the physical Work in process, (July 1) 1,200 Started in July 2020 ? Good units completed and transferred out in July 47,500 Normal spoilage 5,500 Abnormal spoilage 4,000 Work in process, July 316 6,000 Work in process Total costs added during July 2020 Started during cu Degree of completion: direct materials 100%; conversion costs, 50% To account for Degree of completion direct materials, 100%; conversion costs 50% Completed and Normal spoilage Abnormal spoila Print Done Work in process Accounted for Equivalent units of work done to date Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process beginning Started during current period To account for Completed and transferred out during current period Normal spoilage Abnormal spoilage Work in process, ending Accounted for Equivalent units of work done to date Summarize the total costs to account for compute the cost per equivalent unit, and assign costs to the units completed, spoiled units, and units in ending work-in-process inventory. Total Direct Conversion Costs Production Costs Materials Total costs to account for Next, calculate cost per equivalent unit for each cost category. (Enter your answers to the nearest cent.) Direct Materials Conversion Costs Divide by: Cost per equivalent unit for work done to date Finally, assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process. Finally, assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process Total Direct Conversion Production Costs Materials Costs Good units completed and transferred out Total cost of good units completed and transferred out TI Total costs accounted for