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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Equivalent Units Physical Dect Conversion Units Materials Work in process, July 1 Started during July Completed and transferred out during July Work in process, July 31 Costs 8,750 42,500 4,500 12,500 50,000 12,500 42,500 0,000 20,000 10,000 Total Costs for July 2012 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 87500 S162,500 350,000 463,750 $976,250