20-1A Weighted average: Cost per equivalent unit; costs assigned to products P1 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. Direct Materials Conversion Unit Percent Complete Percent Complete Beginning work in process inventory Units started this period 60,000 100% 80% 820,000 Units completed and transferred out 700,000 Ending work in process inventory 180,000 100% 30% Beginning work in process inventory Direct materials Conversion $420,000 139,000 $559,000 Costs added this period Direct materials Conversion Total costs to account for 2,220,000 3,254,000 5.474,000 $6.033,000 13 Conversion Total costs to account for 3,254,000 5,474,000 $6,033,000 Required 1. Compute equivalent units of production for both direct materials and conversion. 2. Compute cost per equivalent unit of production for both direct materials and conversion. Check (2) Conversion cost per equivalent unit, $4.50 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Ch Problem 20-2A Weighted average: Production cost report P2 P4 la Page 760 65F Sunny