% E17-26 (similar to) The assembly division of Canterbury 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 Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Equivalent Units Data Table Physical Units Direct Materials Conversion Costs Flow of Production Work in process, beginning 500 Started during current period Physical Units (Watches) 80 500 Direct Materials 3.300 Conversion Costs 11350 To account for Completed and transferred out during current period From beginning work in process Started and completed Work in process, ending Beginning work in process (May 1" Started in May 2017 Completed during May 2017 Ending work in process May 31 Total costs added during May 2017 Degree of completion Degree of completion rec $1,300.000 o 33.220,000 r costs nversion colo o Accounted for Equivalent unts of work done in current period Print [Dono Enter any number in the edit fields and then click Check