Case #2 Leonog Ltd. has two processing departments (assembly and testing) and uses the FIFO method of process costing. Conversion costs are added evenly during the production process. Direct materials are added at the end of the production process. In May, the following data were recorded for the testing department: Direct materials $0 Conversion Costs $750,000 Physical Transferred- units in Costs Work-in-process, May 1* 37,500 $309,375 Started during May 262,500 Good units completed and transferred out 187,500 Work-in-process, May 31^ 112,500 Total costs added during May $2,231,250 * Degree of completion: direct materials, 0%; conversion costs, 25% ^ Degree of completion: direct materials, 100%; conversion costs, 80% $1,923,750 $5,040,750 Required: For April, summarize the total costs to account for, compute the cost per equivalent unit for transferred-in, direct materials, and conversion costs, and assign costs to units completed and transferred out and to units in ending work-in-process