1 The assembly division of Marzollo Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for May 2020:(Click the icon to view the data.)RequirementCompute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.Enter the physical units in first, then calculate the equivalent units.Flow of ProductionWork in process, beginningStarted during current periodTo account forCompleted and transferred out during current period:From beginning work in processStarted and completedWork in process, endingAccounted forEquivalent unts of work done in current periodPhysicalUnits8050058080380▼120580Equivalent UnitsDirectMaterialsConversionCostsData tablebPhysical Units(Watches)80500460120Beginning work in process (May 1)ªStarted in May 2020Completed during May 2020Ending work in process (May 31)bTotal costs added during May 2020aDegree of completion: direct materials, 90%; conversion costs, 40%.Degree of completion: direct materials, 60%; conversion costs, 30%.PrintDirectMaterials$493,360Done$3,220,000ConversionCosts$71,250$1,392,000I

Name: 1 The assembly division of Marzollo Time Pieces, Inc. uses the FIFO me
Uploaded: 2024-03-20T06:32:49.000Z
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Description: 1 The assembly division of Marzollo Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for May 2020:(Click the icon to view the data.)RequirementCompute equivalent units for direct materials and conversion costs. S