The assembly division of Canterbury Watches, Inc. uses the FIFO method of process costing. Consider the following data for May 2020: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Requirement Summarize total costs to account for calculate 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 inventory. .. - X Reference Begin by summarizing total costs to account for. Total Direct Conversion Production Costs Materials Costs Equivalent Units Direct Conversion Materials Costs Total costs to account for Flow of Production Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending 21 395 39 395 36 63 Data table 479 470 Equivalent units of work done in current period Print Done Physical Units Direct Conversion (Watches) Materials Costs 60 Beginning work in process (May 1) $64,500 $521,450 Started in May 2020 485 Completed during May 2020 455 Ending work in process (May 31) b 90 Total costs added during May 2020 $3,832,000 $1,551,000 Degree of completion direct materials, 65%; conversion costs, 35%. Degree of completion direct materials, 70%; conversion costs, 40%