Managerial accounting

2. Consider the following data for the Assembly Division of Fenton Watches Inc: ty Units Percentage Complete Materials Beginning work in 80 Conversion 40% 90% process Started in May 500 Completed during 460 May Ending work in 120 process (May 31) 60% 30% Conversion $91,040 Materials Beginning work in $493,360 process Costs added $3,220,000 $1,392,000 during May Required Assume the Assembly Division uses weighted average method. i. Compute the equivalent units for the direct materials and conversion costs. ii. Compute the cost per equivalent units for direct materials and conversion costs. ii. Determine the total costs of ending work in process. iv. Determine the total costs of units transferred out of the Assembly Division. V. Prepare a report that reconciles the total costs assigned to the ending work in process inventory and the units transferred out with the costs in the beginning inventory and costs added during the period