The assembly division of Quality Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for the month of May Basic Info a Beginning work in process (May 1) Direct Materials Conversion Costs $ 459,888.00 $ 142,570.00 Degree of completion: 80% 35% Total costs added during May 2017 $3,237,000.00 $1,916,000.00 Ending work in process (May 31) Degree of completion: ? 80% ? 40% Answer cells must remain in the same location so do not insert/delete columns or rows in the file. Unless otherwise indicated, Inumeric answers must include a formula or reference so do not hard enter the answer. Flow of Production Work in process, beginning Equivalent units of work done (added in) in current period Completed and transferred out Work in process, ending Accumulation of Costs Work in process, beginning + Costs added in current period = Total costs to account for Cost per equivalent unit in beginning inventory Cost per equivalent unit of work done in current period Average cost per equivalent unit Assignment of Costs (Weighted-Average Method) Completed and transferred out: = Total equivalent units completed and transferred out Total costs completed and transferred out Work in process, ending = Total equivalent units in ending work in process Total costs in ending work in process Total costs accounted for Direct Materials Conversion (Watches) Costs 100 450 160 Total Direct Materials Conversion Costs Production Costs Direct Materials Conversion Costs Total Production Costs