Consider the following data for the assembly division of a satellite manufacturer: (Click the icon to view the assembly division data.) The assembly division uses the FIFO 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. Calculate cost per equivalent unit for direct materials and conversion costs Requirement 1. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units in first, and then calculate the equivalent units. (Round your answers to the nearest cent.) Equivalent Units Direct Conversion Assembly division data Physical Flow of Production Units Materials Costs Work in process, beginning Started during current period 80 87 To account for Completed and transferred out during current period: From beginning work in process Started and completed Physical Units Direct Conversion (satellites) Materials Costs Beginning work in process (May 1) 7 $5,435,000 $1,001,470 Started in May 2018 80 Completed during May 2018 47 Ending work in process (May 31) 40 Costs added during May 2018 $35,480,000 $15,355,000 Degree of completion: direct materials, 90%; conversion costs, 40%. Degree of completion direct materials, 60%; conversion costs, 30% Work in process, ending Accounted for Print Done Work done in current period only Requirement 2. Calculate cost per equivalent unit for direct materials and conversion costs. (Round your cost per equivalent unit to the nearest cent.) Direct Conversion Materials Costs Divide by Cost per equivalent unit for work done in current period