(Click the icon to view the equivalent unit computation.) The assembly division of Gannett Watches, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017 (Click the icon to view the data) Requirement Summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to units completed (and transferred out) and to units in ending wow Total Direct Conversion Production Costs Materials Costs Total costs to account for Next, calculate cost per equivalent unit for direct materials and conversion costs. Divide by Cost per equivalent unit Direct Materials Conversion Costs 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 accou Direct Total Conversion Production Costs Materials Costs Completed and transferred out Total from beginning inventory Total costs of units completed and transferred out Total costs accounted for Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search H e Reference Flow of Production Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Equivalent units of work done in current period Print Done Equivalent Units Direct Conversion Materials Costs 5 60 367 367 66 42 438 469 Data Table - Physical Units Direct Conversion (Watches) Materials Costs 100 Beginning work in process (May 1) $549,300 $71,250 Started in May 2017 487 Completed during May 2017 467 Ending work in process (May 31)b 120 Total costs added during May 2017 $3,460,200 $1,782,200 aDegree of completion: direct materials, 95%; conversion costs, 40%. Degree of completion: direct materials, 55%; conversion costs, 35%. Print Done X