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The assembly division of Cranberry Watches, Inc. uses the weighted-average method of process costing. Consider the following data for the month of May 2017: E(Click the icon to view the data.) Question Help (Click the icon to view the equivalent unit computation.) Read the requirement Begin by summarizing the total costs to account for Total Direct Conversion Costs Production Costs Materials 71,250 432,500 $ 503,750 $ Work in process, beginning 1,395,000 3,225,000 4,620,000 Costs added in current period 1,466,250 5,123,750 $ 3,657,500 Total costs to account for Next, calculate cost per equivalent unit for direct materials and conversion costs. Conversion Direct Uf process costing. Consider the follor (Click the icon to view the equivalent unit computation.) ment Work in process, beginning Proqucuon Costs Materiais Costs 503,750 $ Costs added in current period 432,500$ 71.250 4,620,000 3,225,000 1,395,000 Total costs to account for 5,123,750 3,657,500 $ 1,466,250 Next, calculate cost per equivalent unit for direct materials and conversion costs. Direct Conversion Materials Costs equivalent units of work done to date Divide by Cost per equivalent unit Check Answer Choose from any list or enter any number in the input fields and then click Check Answer. Clear All part remaining 1 JUN1 17 A n t method of process costing. Consider the i Data Table mel , be cur Physical Units Direct Conversion (Watches) cou Materials Costs Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 aDegree of completion: direct materials, 80%; conversion costs, 35%. Degree of completion: direct materials, 64%; conversion costs, 32% $71,250 75 $432,500 520 cost 470 125 $3,225,000 $1,395, 000 uivale Done Print alent Check Answer any list or enter any number in the input fields and then click Check Answer Clear All process costing. Cons (Click the icon to view the equivalent unit comput rement Requirement Proauction Costs SS, beg Materiais COSts i Requirement n curre ccoun Summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to the units completed (and transferred out) and units in ending work in process. cost p Done Print uivalent urmits of worK one to dae alent unit Check Answer ny list or enter any number in the input fields and then click Check Answer Clear All ches, Inc. uses the weighted-average method of process costing. Consider the follc May 2017 Question Reference Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Completed and transferred out during current period 470 470 470 125 Work in process, ending 80 40 595 Accounted for 510 550 Work done to date one Print Check Answer y list or enter any number in the input fields and then click Check