Total Production Costs Direct Materials Conversion Costs Completed and transferred out Total from begiving inventory Total costs of units completed and transferred out Total costs accounted for Choose from any ist or enter any number in the input fields and then continue to the next question The assembly division of Marzollo Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017: : (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Data Table Requirement Summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to units com Conversion ... Costs $91,000 Total Direct Conversion Production Costs Materials Costs 523,500 $ 432,500 $ 91,000 4,870,200 3,635,200 1,235,000 Physical Units Direct (Watches) Materials Beginning work in process (May 1) 80 $432,500 Started in May 2017 540 Completed during May 2017 470 Ending work in process (May 31) 150 Total costs added during May 2017 $3,635,200 Degree of completion direct materials, 75%; conversion costs, 30%. Degree of completion direct materials, 68%; conversion costs, 32% Work in process, beginning Costs added in current period $1,235,000 $ 5,393,700 $ 1,326,000 4,067,700 $ Total costs to account for Next, calculate cost per equivalent unit for direct materials and conversion costs. Direct Conversion Reference Costs Costs added in current period Materials $ 3,635,200 $ 512 1,235,000 Divide by equivalent units of work done in current period 494 Equivalent Units $ 2,500 7,100 $ Direct Cost per equivalent unit Conversion Costs Flow of Production Materials Finally, assign total costs to units completed (and transferred out) and to units in ending work in process (WIP). Begin by calculating the total from beg Total Direct Conversion Completed and transferred out during current period: From beginning work in process Started and completed 20 56 Production Costs Materials Costs 390 390 102 48 Work in process, ending 523,500 432,500 91,000 512 494 Completed and transferred out: Costs added to beginning WIP in current period Equivalent units of work done in current period Total from beginning inventory Equivalent units of work done in current period