14 Required information (The following information applies to the questions displayed below.) Part 2 of 3 Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 730,000 units of product to the second process. Additional information for the first process follows. 3 points At the end of November, work in process inventory consists of 208,000 units that are 50% complete with respect to conversion. Beginning work in process inventory had $548,730 of direct materials and $104,250 of conversion cost. The direct material cost added in November is $3,672,270, and the conversion cost added is $1,980,750. Beginning work in process consisted of 65,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 65,000 were from beginning work in process and 665,000 units were started and completed during the period. eBook Print 2. Compute both the direct material cost and the conversion cost per equivalent unit. Cost per equivalent unit of production Materials Conversion Total costs Costs EUP EUP Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals)