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 to 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. EE Begin by summarizing the total costs to account for. Direct Conversion Total Production Costs Reference Materials Costs Work in process, beginning Costs added in current period Total costs to account for Equivalent Units Direct Conversion Materials Costs Flow of Production Completed and transferred out during current period: From beginning work in process Started and completed 18 90 x Data table 320 320 Work in process, ending 119 68 457 478 Direct Conversion Equivalent units of work done in current period Costs $91,000 Physical Units (Watches) Materials Beginning work in process (May 1) 120 $285,600 Started in May 2017 490 Completed during May 2017 440 Ending work in process (May 31) 170 Total costs added during May 2017 $3,336,100 Degree of completion direct materials, 85%; conversion costs, 25%. Degree of completion direct materials, 70%; conversion costs, 40%. Print Done $1,673,000 Print Done Help me solve this Etext pages Get more help Clear all Check answe