The assembly division of Walton Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017: E: (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. Physical Flow of Production Units 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 x Data Table Conversion Costs $79,900 60 485 Physical Units Direct (Watches) Materials Beginning work in process (May 1) $521,450 Started in May 2017 Completed during May 2017 455 Ending work in process (May 31) 90 Total costs added during May 2017 $3,832,000 Degree of completion: direct materials, 65%; conversion costs, 35%. Degree of completion: direct materials, 70%; conversion costs, 40%. $1,551,000