1 t1 of 3 B ts Required Information Problem 20-1A (Algo) Weighted average: Cost per equivalent unit; costs assigned to products LO P1 [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. eBook Print ferences Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Direct Materials Conversion Units 69,000 867,000 Percent Percent Complete Complete 100% 80% 730,000 206,000 100% 60% $ 486,720 85,360 $ 572,080 3,257,280 1,621,840 4,879,120 $ 5,451,200 Problem 20-1A (Algo) Part 1 Required: 1. Compute equivalent units of production for both direct materials and conversion. Equivalent Units of Production (EUP) - Weighted Average Method Units Direct Materials Percent Complete EUP Percent Complete Conversion Total units EUP 2 "art 2 of 3 28 pints Required Information Problem 20-1A (Algo) Weighted average: Cost per equivalent unit; costs assigned to products LO P1 [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. eBook Print References Units Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory 69,000 Direct Materials Percent Complete 100% Conversion Percent Complete 80% 867,000 730,000 206,000 100% 60% Beginning work in process inventory Direct materials $ 486,720 85,360 $ 572,080 Conversion Costs added this period Direct materials Conversion Total costs to account for 3,257,280 1,621,840 4,879,120 $ 5,451,200 Problem 20-1A (Algo) Part 2 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Total costs + Equivalent units of production (from part 1) Cost per equivalent unit of production Costs EUP Materials Costs EUP Conversion 3 "art 3 of 3 28 ints Required Information Problem 20-1A (Algo) Weighted average: Cost per equivalent unit; costs assigned to products LO P1 [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. eBook Print References Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Direct Materials Conversion Units 69,000 867,000 Percent Complete 100% Percent Complete 80% 730,000 206,000 100% 60% $ 486,720 85,360 $ 572,080 3,257,280 1,621,840 4,879,120 $ 5,451,200 Problem 20-1A (Algo) Part 3 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-Weighted average Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for EUP Cost per EUP Total cost