I The assembly division of Walton Time Pieces, Inc. uses the FIF0 met.docx

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I The assembly division of Walton Time Pieces, Inc. uses the FIF0 method of process costing. Consider the following data for the month of May 2017 S(Cick the locon to view the data.) (Click the icon to view the equivalent unt computation) 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 completed (and transfemed out) and to units in ending work in process Direct Conversion Materials Costs Divide by Cost per equivalent unt Finaly, assign total costs to units completed (and transfered out) and to units in ending work in process (WIP) Begin by caloulating the total from beginning inventory, then caloulate the total costs accounted for Total Direct Conversion Production Costs Materials Costs Completed and transfemred out: Work in process, beginning Started and completed Total from beginning inventory Equivalent unts of work done in cument period Total costs of units completed

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