$17-24$ Weighted$-$average method, assigning costs. Bio Doc Corporation is a biotech company based inMilpitas. It makes a cancer$-$treatment drug in a single processing department. Direct materials are added atthe start of the process. Conversion costs are added evenly during the process. Bio Doc uses the weightedaverage method of process costing. The following information for July $2011$ is available.Physical UnitsEquivalent UnitsDirect ConversionMaterials Costs$8,5001,70033,00010,50033,0006,300$RequiredWork in process, July $1$Started during JulyCompleted and transferred out during JulyWork in process, July $31*$Degree of completion: direct materials, $100\%$; conversion costs, $20\%.$"Degree of completion: direct materials, $100\%$; conversion costs, $60\%.$Total Costs for July $2008$Work in process, beginningDirect materialsConversion costsDirect materials added during JulyConversion costs added during JulyTotal costs to account for$$63,10045,510$ S$108,610284,900485,040$$$878,5501.$ Calculate cost per equivalent unit for direct materials and conversion costs$\mathrm{.}2.$ Summarize total costs to account for, and assign total costs to units completed $($and transferred out$)$and to units in ending work in process$\mathrm{.}17-25$ FIFO method, assigning costs.Do Exercise $17-24$ using the FIFO method. Note that you first need to calculate the equivalent units of work