Quiz Scenario: Valley Past Inc., uses the weighted average method for process costing, Valley produces oil products that pass through two sequential departments. All the materials are added at the beginning of the process while conversion costs are incurred evenly throughout the process. The work in process Inventory for Department 1 at the beginning of March 2019 consisted of 12,000 gallons. There were beginning costs containing $135,000 of materials and $25,000 of Direct Labor and $10,000 of Manufacturing Overhead. During March 135,000 gallons were started in Department 1 and the costs during March were $1.235,000 for materials and $260,000 of conversion costs. The work in process at the end of March consisted of 16,000 gallons that were 35% complete Whert do the come from? hy Equivalent Units and Product Cost Report - Weighted Average Method Company Name Equivalent Units Calculations, Month, 2017 Where the Phy Gold Trade Ending End Cat sed To Product Cort Report begin were come Conserto Total Control Cut when Come and transfer Total Code on won Prac Total TO Total Cod Use these following figures to check before submitting your quiz: 1. Total Equivalent Units - Direct Materials = 147,000 2. Total Equivalent Units - Conversion Costs = 136,600 3. Unit Costs - Direct Materials = $9.32 (MUST BE ROUNDED) 4. Unit Costs - Conversion Costs = $2.16 (MUST BE ROUNDED) 5. Total Cost Allocated - Direct Materials = $1,370,040.00 6. Total Cost Allocated - Conversion Costs - $295,056.00