The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for May 2020

2020:

	Physical Units	Direct	Conversion
	(Watches)	Materials	Costs
Beginning work in process left parenthesis May 1 right parenthesis Superscript a (May 1)a	100	$459,888	$142,570
Started in May 2020 2020	510
Completed during May 2020 2020	450
Ending work in process left parenthesis May 31 right parenthesis Superscript b (May 31)b	160
Total costs added during May 2020 2020		$3,237,000	$1,916,000

Superscript a

a. Degree of completion: direct materials, 80%; conversion costs, 35%.

Superscript b

b. Degree of completion: direct materials, 80%; conversion costs, 40% .

		Equivalent Units
	Physical	Direct	Conversion
Flow of Production	Units	Materials	Costs
Completed and transferred out during current period	450	450	450
Work in process, ending	160	128	64
Accounted for	610
Work done to date		578	514

Read the requirement

Summarize total costs to account for, calculate 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 inventory.