18-24 Weighted-average method, equivalent units. The assembly division of Fenton Watches, Inc., uses the weighted-average method of process costing. Consider the following data for the month of May 2020: Physical Units (Watches) Conversion Costs Direct Materials Beginning work in process (May 1)a 80 $ 493,360 $ 91,040 Started in May 2020 500 Completed during May 2020 460 Ending work in process (May 31)b 120 Total costs added during May 2020 $3,220,000 $1,392,000 *Degree of completion: direct materials, 90%; conversion costs, 40%. Degree of completion: direct materials, 60%; conversion costs, 30%. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Required 2 CHAPTER 18 PROCESS COSTING Required 18-25 Weighted-average method, assigning costs (continuation of 18-24). For the data in Exercise 18-24, summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to the units completed (and transferred out) and units in ending work in process.