The assembly division of Fenton Watches, Inc., uses the weighted-average method of process costing. Consider the following data for the month of May 2014:

					Physical Units		Direct Materials		Conversion Costs
Beginning work in process (May 1)*					80		$493,360		$91,040
Started in May 2018					500
Completed during May 2018					460
Ending work in process (May 31)^					120
Costs added during May 2018							$3,220,000		$1,392,000
*Degree of completion: direct materials, 90%; conversion costs, 50%
^Degree of completion: direct materials, 60%; conversion costs, 30%

The assembly division uses the weight-average method of process costing.

Required
1. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.
2. Summarize total costs of account for, calculate cost per equivalent unit for direct materials and conversion costs, and assign total cost of units completed (and transferred out) and to units in ending work in process.