Question

Bio Doc Corporation is a biotech company based in Milpita. 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. Bio Doc uses the weighted-average method of process costing. The following information for July 2012 is available:
*Degree of completion: direct materials, 100%; conversion costs, 70%.
†Degree of completion: direct materials, 100%; conversion costs, 50%.
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.


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  • CreatedJuly 31, 2015
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