Correct?

Required information [The following information applies to the questions displayed below] 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 780,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 203,000 units that are 50% complete with respect to conversion. Beginning work in process inventory had $319,475 of direct materials and $132,225 of conversion cost. The direct material cost added in November is $2,138,025, and the conversion cost added is $2,512,275. Beginning work in process consisted of 75,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 75,000 were from beginning work in process and 705,000 units were started and completed during the period. Required: For the first process: 1. Determine the equivalent units of production with respect to direct materials and conversion. Equivalent Units of Production (EUP). Weighted Average Method Units % Materials 780,000 203,000 983,000 2. Compute both the direct material cost and the conversion cost per equivalent unit. Units completed and transferred out Ending work in process-units Total units Cost per equivalent unit of production Costs of beginning work in process Costs incurred this period Total costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Cost of units transferred out Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total costs of ending work in process Total costs accounted for 100% 100% EUP EUP EUP-Materials % Conversion Cost per EUP 780,000 S 780,000 $ 780,000 203,000 983,000 203,000 $ 101,500 S 2.50 3.00 Cost per EUP Costs EUP 100% 50% 3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Materials 319,475 2,138,025 $ 2,457,500 983,000 2.50 $ $ EUP-Conversion Total cost $ 1,950,000 2,340,000 Total cost 2.50 $ 507,500 304,500 3.00 S 4,290,000 780,000 101.500 881,500 812,000 $ 5,102,000 Costs EUP Conversion 132,225 2.512,275 $ 2,644,500 881,500 3.00 $ S