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.) Requirement (Click the icon to view the equivalent unit computation.) 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 pr Begin by summarizing the total costs to account for Data Table Total Direct Conversion Production Costs Materials Costs Physical Units Direct Conversion (Watches) MaterialsCosts 100 525 480 145 $96,800 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 a Degree of completion direct materials, 85%, conversion costs 30% b Degree of completion: direct materials, 80%; conversion costs, 40%. Total costs to account for te cost per equivalent unit for direct materials and conve rsion costs. Direct Conversion $3.423.700 $1,625600 Materials Costs Divide by Cost per equivalent unit Finally, assign total costs to units completed (and transferred out) and to units in ending work in process (WIP). Begin by calculating the total from beginning inventory, then calculate the total costs accounted for Print Done Direct Cnversion Total Reference Production Costs Materials Costs Completed and transferred out Equivalent Units Direct Conversion Total from beginning inventory Flow of Production Materials Costs Completed and transferred out during current period Total costs of units completed and transferred out From beginning work in process Started and completed 15 380 116 511 70 380 58 508 Work in process, ending Total costs accounted for Equivalent units of work done in current period hoose from any list or enter any number in the input fields and then continue to the next