3. chemical in a single processing department. Direct materials are added at the start of the process 17-24 Weighted-average method, assigning costs. The Chatham Company makes a water-treatmer Conversion costs are added evenly during the process. Chatham uses the weighted average method process costing. The following information for July 2004 is available. Equivalent Units Physical Units Direct Materials Conversion Costs 10,000 7,000 Work in process, July 1 Started during July Completed and transferred out during July Work in process, July 31 10,000 40,000 34,000 16,000 34,000 16,000 34,000 8,000 aDegree of completion: direct materials, 100%; conversion costs, 70%. bDegree of completion: direct materials, 100%; conversion costs, 50%. Total Costs for July 2004 Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for $60,000 70,000 $130,000 280,000 371,000 $781,000 equired 1. Calculate cost per equivalent unit for direct materials and conversion costs. 2. Summarize total costs to account for, and assign these costs to units completed (and transferred out and to units in ending work in process