Points Possible Step Instructions Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) 12 a. Enter all amounts as positive values Total Points 12 1 Process Costing 2 Weighted-average method, equivalent units The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process 4 costing. Consider the following data for the month of May 2017: . Physical Units Direct Conversion (Watches) Materials Costs $142,570 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31)b Total costs added during May 2017 Degree of completion: $459,888 100 510 450 160 $3,237,000 $1,916,000 Direct materials Conversion costs 80% 35% 13 Degree of completion: 15 16 17 18 19 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Direct materials Conversion costs 80% 40% Always use cell references and formulas where appropriate to receive full credit. If you 20 copy/paste from the Instruction tab you will be marked wrong. 21 22 Requirement INSTRUCTIONS ENTERANSWERS Ready 0 .00 Condit .00 40 Formatti Merge & Center , $-70 Format Painter Clipboard Font Alignment Number B17 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) 1 Equivalent Units Direct Conversion Physical Units MaterialsCosts 4 5 Work in process, beginning 6 Started during current period 7 To account for 8 Completed and transferred out during current period 9 Work in process, ending 10 Accounted for 11 Equivalent units of work done to date 12 13 4 15 16 17 18 19 20 21 23 24