Equivalent Units
	Direct	Conversion
Flow of Production	Materials	Costs
Completed and transferred out during current period:
From beginning work in process	20	65
Started and completed	350	350
Work in process, ending	128	64
Equivalent units of work done in current period	498	479

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. Data Table Total Direct Conversion Costs Production Costs Materials Conversion Costs $142,570 Total costs to account for Physical Units Direct (Watches) Materials Beginning work in process (May 1) 100 $459,888 Started in May 2017 510 Completed during May 2017 450 Ending work in process (May 31) 160 Total costs added during May 2017 $3,237,000 Degree of completion direct materials, 80%: conversion costs, 35% Degree of completion direct materials, 80%: conversion costs, 40% $1,916,000 Choose from any list or enter any number in the input fields and then click Check Answer. Print Done