HW Score: 0 %, 0 of E17-27 (book/static) Question Help The assembly division of Quality Time Pleces, Inc. uses the FIFO method of procss costing Consider the folowing data for the month of May 2017 (Click the ioon to view the data) (Click the lcon to view the equivaient unit computation) Requirement Summarine the total oosts to acoount for, oaloulate the cost per equivalent unit for drect materials and oonversion oosts, and assign costs to units completed (and transfemed ou) and to unis in anding work in process Begin by summarting the total costs to sooount for Total Direct Conversion Production Costs Materials Costs Total costs to account for Reference Data Table Equlvalent Units Physical Units Direct Conversion Direct Conversion (Watches) 100 Materials Costs $142,670 $450 Flow of Productien Materials Costs Beginning work in process (May 1 Started in May 2017 Completed during May 2017 Ending work in process (May 31) Tolal oosts added during May 2017 "Deges of complion drect matea 80% oeon oosts 3% Deges of complon diect maas 0% on oos 40% 510 450 160 Completed and ranslemed out during ourment period From beginning work in process 20 65 $3.237 000 $1.916,000 360 Started and complieted 350 128 64 Work in process, ending 496 479 Equivalent units of work done in ourment period Done Print Print Done Choose from any list or enter any number in the input fields and then clck Check Answer 3 parts remaining Check Answer Clear All E17-27 (book/static) Question He The assembly division of Quality Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017: (Click the lcon to view the data.) (Click the icon to view the equivalent unit computation.) 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 (a transferred out) and to units in ending work in process Begin by summarizing the total costs to account for Total Direct Conversion Production Costs Materials Costs Total costs to account for Reference Data Table Equivalent Units Physical Units Direct Conversion Direct Conversion (Watches) 100 Flow of Production Materials Costs Materials Costs 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 compledon: direct materials, B0% conversion costs 35 % Degree of compledon direct materials, 80% conversion coes 4o% $459,888 $142.570 Completed and transferred out during current period: 510 450 160 From beginning work in process 20 65 Started and completed 350 350 $3,237,000 $1,916,000 128 Work in process, ending 64 498 479 Equivalent units of work done in current period Print Done Print Done