1.

The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for May 2020:

	Physical Units (Watches)	Direct Materials	Conversion Costs
Beginning work in process (May 1)a	100	$ 459,888	$ 142,570
Started in May 2020	510
Completed during May 2020	450
Ending work in process (May 31)b	160
Total costs added during May 2020		$3,237,000	$1,916,000

^a Degree of completion: direct materials, 80%; conversion costs, 35%.

^b Degree of completion: direct materials, 80%; conversion costs, 40%.

Compute equivalent units for direct materials and conversion costs. I suggest that you use the process costing worksheet that we used in class to complete this question.

2. Refer to the information in Question 10. Suppose the assembly division at Quality Time Pieces, Inc. uses the FIFO method of process costing instead of the weighted-average method. Compute equivalent units for direct materials and conversion costs.

I suggest that you use the process costing worksheet that we used in class to complete this question.