The assembly division of Quality Time Pieces, 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 assian costs to units completed (a transferred out) and to units in endir A Data Table X Begin by summarizing the total cost Costs Physical Units Direct Conversion (Watches) Materials Beginning work in process (May 1) 100 $459,888 $142,570 Started in May 2017 510 Completed during May 2017 450 Ending work in process (May 31) 160 Total costs added during May 2017 $3,237,000 $1,916,000 a Degree of completion direct materials, 80%; conversion costs, 35%. "Degree of completion direct materials, 80%; conversion costs, 40%. Total costs to account for b Print Done Choose from any list or enter any number in the input fields and then click Check Answer. he assembly division of Quality Time Pieces, Inc. uses the FIFO method of process costing. Consider the following d (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Eequirement ummarize the total costs to account for calculate the cost per equivalent unit for direct materials and conversion cost ansferred out) and to units in ending work in process. egin by summarizing the total costs to account for. Work in process, beginning Costs added in current period Total Direct Conversion Production Costs Materials Costs 602,458 $ 459,888 $ 142,570 5,153,000 3,237,000 1,916,000 5,755,458 $ 3,696,888 $ 2,058,570 otal costs to account for lext, calculate cost per equivalent unit for direct materials and conversion costs. Direct Materials Conversion Costs 2058570 479 3696888 498 Costs incurred to date Divide by equivalent units of work done in current period Cost per equivalent unit 7423.46 4297.64 hoose from any list or enter any number in the innut fields and then click Check