A Data Table The assembly division of Marzollo Timo Places, Inc. uses the FIFO method of process costing. Consider the following (Click the icon to view the data.) (Click the icon to view the equivalent unit computation Requirement Summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion co process. Direct Materials $543,000 Conversion Costs $96,800 Begin by summarizing the total costs to account for. Total Direct Materials Conversion Costs Physical Units (Watches) Beginning work in process (May 1) 110 Started in May 2017 515 Completed during May 2017 465 Ending work in process (May 31) 160 Total costs added during May 2017 Degree of completion direct materials, 70%: conversion costs, 50%. Degree of completion direct materials, 65%: conversion costs, 35%. Production Costs $3,690,000 $1,211,600 Total costs to account for i Reference Next, calculate cost per equivalent unit for direct materials and conversion costs. Conversion Direct Materials Costs Equivalent Units Direct Conversion Materials Costs Flow of Production Divide by Cost per equivalent unit Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending 33 355 104 Choose from any list or enter any number in the input fields and then continue to the next question. 492 466 Equivalent units of work done in current period Cost per equivalent unit Finally, assign total costs to units completed (and transferred out) and to units in ending work in process (WIP). Begin by calculating the total from beginning inventory, then calculate the total costs accounted for. Direct Conversion Total Production Costs Materials Costs Completed and transferred out: Total from beginning inventory Total costs of units completed and transferred out Total costs accounted for