Weighted-average method, assigning costs. Tomlinson Corporation is a biotech company...

Weighted-average method, assigning costs. Tomlinson Corporation is a biotech company based in Milpitas. 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. Tomlinson uses the weighted-average method of process costing. The following information for July 2014 is available.

1. Calculate the cost per equivalent unit for direct materials and conversion costs.

2. Summarize the total costs to account for, and assign them to units completed (and transferred out) and to units in ending work in process.