The assembly division of Fenton 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. Begin by summarizing the total costs to account for. Total Direct Conversion Production Costs Materials Costs Total costs to account for i X Data Table Physical Units Direct Conversion Costs Materials $432,500 $114,350 (Watches) 80 Beginning work in process (May 1)a Started in May 2017 540 Completed during May 2017 470 Ending work in process (May 31) 150 Total costs added during May 2017 a Degree of completion: direct materials, 75%; conversion costs, 30%. Degree of completion: direct materials, 68%; conversion costs, 32%. $3,635,200 $1,235,000 Print Done i Reference Equivalent Units Direct Conversion Materials Costs Flow of Production Completed and transferred out during current period: From beginning work in process Started and completed 20 56 390 390 102 48 Work in process, ending 512 494 Equivalent units of work done in current period Print Done