10.

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.

13.

For the data in Question 10, use the FIFO method to

calculate cost per equivalent unit for direct materials and conversion costs

assign costs to units completed (and transferred out) and to units in ending work-in-process inventory. In other words, calculate the costs of completed and transferred out and the costs of units in ending work-in-process inventory

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