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: (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. Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process, beginning 40 485 Started during current period 525 To account for Completed and transferred out during current period: From beginning work in process 40 10 8 Started and completed 405 405 80 Work in process, ending 48 16 Accounted for 525 462 429 Equivalent unts of work done in current period 405 Physical Units Direct Conversion Costs $91,000 (Watches) Materials Beginning work in process (May 1)a 40 $480,800 Started in May 2017 485 Completed during May 2017 445 Ending work in process (May 31) 80 Total costs added during May 2017 $2,916,900 Degree of completion direct materials, 75%; conversion costs, 20%. bDegree of completion: direct materials, 60%; conversion costs, 20%. $1,087,200