The assembly division of Cranberry WatchesCranberry Watches, Inc. uses the weighted-average method of process costing. Consider the following data for the month of May 2017:

Physical Units	Direct	Conversion
	(Watches)	Materials	Costs

Beginning work in process left parenthesis May 1 right parenthesis Superscript a(May 1)a	8282	$ 549 comma 300$549,300	$ 96 comma 550$96,550
Started in May 20172017	505505
Completed during May 20172017	467467
Ending work in process left parenthesis May 31 right parenthesis Superscript b(May 31)b	120120
Total costs added during May 20172017		$ 3 comma 235 comma 000$3,235,000	$ 1 comma 405 comma 000$1,405,000

Superscript aaDegree of completion: direct materials, 80%; conversion costs, 35%.

Superscript bbDegree of completion: direct materials, 55%; conversion costs, 35%.

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Begin by summarizing the total costs to account for.

		Total	Direct	Conversion
		Production Costs	Materials	Costs
Total costs to account for

Next, calculate cost per equivalent unit for direct materials and conversion costs.

		Direct	Conversion
		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.

		Total	Direct	Conversion
		Production Costs	Materials	Costs
Completed and transferred out
Work in process, ending
Total costs accounted for

Equivalent Units

Physical

Direct

Conversion

Flow of Production

Units

Materials

Costs

Completed and transferred out during current period

467

467

467

Work in process, ending

120

66

42

Accounted for

587

Work done to date

533

509