The assembly division of Gannett Watches, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017 EEE(Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units in first, then calculate the equivalent units. Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process, beginning Started during current period To account for Completed and transferred out during current period: From beginning work in procesS Started and completed Work in process, ending Accounted for Equivalent unts of work done in current period Physical Units Direct Conversion (Watches) Materials Costs 60 $521,450 $96,800 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 485 455 90 Ending work in process (May 31) Total costs added during May 2017 $3,832,000 $1,551,000 Degree of completion: direct materials, 65%; conversion costs, 35%. Degree of completion: direct materials, 70 %; conversion costs, 40%