The assembly division of Fenton Watches, Inc., uses the weighted-average method of process costing. Consider the following data for the month of May 2017: a Degree of completion: direct materials, 90%; conversion costs, 40%. b Degree of completion: direct materials, 60%; conversion costs, 30%. Required: The five steps of process costing 1- Summarize the flow of physical units of output 2- Compute output in terms of equivalent units 3- Summarize the total costs to account for. 4- Compute the cost per equivalent unit 5- Assign the total costs to the units completed \& to the units in end. WIP inventory A- Using the Weighted Average method B- Using the FIFO Method