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.) ) (Click the icon to view the equivalent unit computation.) Requirement Summarize the total costs account for calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to units completed (and transferred out) and to units in ending work in process, 11 Begin by summarizing the total costs to account for Total Direct Conversion - X Data table Production Costs Materials Costs Conversion Costs $96,800 Total costs to account for Physical Units Direct (Watches) Materials Beginning work in process (May 1) 80 $493,360 Started in May 2017 500 Completed during May 2017 460 Ending work in process (May 31,5 120 Total costs added during May 2017 $3.220,000 "Degree of completion direct materials, 90%, conversion costs, 40% Degree of completion direct materiais, conversion costs, 30% Reference $1.392,000 Equivalent Units Direct Conversion Materials Costs Flow of Production Completed and transferred out during current period: : From beginning work in process Started and completed Print Done 8 48 380 380 Work in process, ending 72 36 460 Equivalent units of work done in current period 464 ww