Process Costing Sample Problem Consider the following data for Assembly Division of ABC Company. The Assembly Division of ABC Company uses weighted average method of process costing. Physical Units (watches) Direct Materials Conversion Costs Beg. WIP (May 1, 2020)*a 80 P 493,360 P 91,040 500 460 Started in May 2020 Completed during May 2020 Ending WIP (May 31, 2020)*b Total cost added during May 2020 120 3,220,000 1,392,000 Additional information: *a Degree of completion direct materials, 90%; conversion costs, 40% *b Degree of completion direct materials, 60%; conversion costs, 30% Required: 1. Compute for the equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. 2. Summarize total costs to account for calculate cost per equivalent unit for direct materials and conversion cost, and assign total costs to units completed (and transferred out) and to units in ending WIP