E17-25 (similar to) The assembly division of Stiles Watches, Inc. uses the weighted-average method of process costing. Consider the following data for the month of May 2017: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Read the requirement. Begin by summarizing the total costs to account for. Work in process, beginning Equivalent units of work done to date Total costs to account for Reference Data Table Total Production Costs Direct Materials Conversion Costs Flow of Production Completed and transferred out during current period Work in process, ending Accounted for Work done to date Print Done Equivalent Units Physical Units Direct Materials Conversion Costs 455 455 455 130 91 39 585 546 494 Beginning work in process (May 1) Started in May 2017 Physical Units (Watches) 95 Direct Materials $521,450 Conversion Costs $114,350 490 Completed during May 2017 455 Ending work in process (May 31)b 130 Total costs added during May 2017 $3,205,000 $1,380,000 *Degree of completion: direct materials, 80%; conversion costs, 35%. "Degree of completion: direct materials, 70%; conversion costs, 30%. Requirement Print Done 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. Print Done