18-26 Weighted-average method, equivalent units and unit costs. [Excel template] (LO 3)Consider the following data for the assembly division of Fenton Watches Inc.:

18-26 Weighted-average method, equivalent units and unit costs. [Excel template] (LO 3)Consider the following data for the assembly division of Fenton Watches Inc.:

The table is as follows.

Blank	Physical Units	Direct Materials	Conversion Costs
Beginning work in process, May 1 asterisk	80	$ 493,360	$ 91,040
Started in May	500	Blank	Blank
Completed during May	460	Blank	Blank
Ending work in process, May 31 dagger	120	Blank	Blank
Costs added during May	Blank	$3,220,000	$1,392,000

Superscript asterisk, Degree of completion, direct materials, 90%, conversion costs, 50%. Superscript dagger, Degree of completion, direct materials, 60%, conversion costs, 30%.

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The assembly division uses the weighted-average method of process costing.

Required

Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.

Check Figure: Direct materials equivalent units, 532