Process Costing Weighted average method, equivalent units The assembly division of Quality Time Pieces, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: Physical Units (Watches) Direct Materials $459,888 Conversion Costs $142,570 100 510 450 160 $3,237,000 $1,916,000 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 Degree of completion: Direct materials Conversion costs Degree of completion: Direct materials Conversion costs 80% 35% 80% 40% Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong. Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. a. Enter all amounts as positive values. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) Equivalent Units Direct Conversion Materials Costs Physical Units 100 510 610 Work in process, beginning Started during current period To account for Completed and transferred out during current period Work in process, ending Accounted for Equivalent units of work done to date