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 assign costs to units completed (and transferred out) and to units in ending work in process. Begin by summarizing the total costs to account for Direct Materials Conversion Costs Production Costs Total costs to account for Choose from any list or enter any number in the input fields and then click Check Answer. A Data Table Conversion Costs $142,570 Physical Units Direct (Watches) Materials Beginning work in process (May 1) 100 $459,888 Started in May 2017 510 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 $3,237,000 a Degree of completion: direct materials, 80%; conversion costs, 35%. Degree of completion: direct materials, 80%; conversion costs, 40%. 450 160 $1,916,000 i Reference Equivalent Units Direct Materials Conversion Costs Flow of Production Completed and transferred out during current period: From beginning work in process Started and completed 20 350 128 Work in process, ending Equivalent units of work done in current period 498 479