Exercise $18-24.$ Suppose the assembly division at Quality Time Pieces, Inc. uses the FIFO method of process costing instead of the weighted$-$average method.

Required

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

$18-27.$ FIFO METHOD, ASSIGNING COSTS $($CONTINUATION OF $18-26).$

Required

For the data in Exercise $18-24,$ use the FIFO method to summarize total costs to account for, calculate 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 inventory.

$\backslash$table$[[,\backslash$table$[[$Physical Units$],[($Watches$)]],\backslash$table$[[$Direct$],[$Materials$]],\backslash$table$[[$Conversion$],[$Costs$]]],[$Beginning work in process $($May $1),100,$$$459,888,$$$142,570$