Required Information Problem 16-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 [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 process. During November, the company transferred 725,000 units of product to finished goods. At the end of November, the work in process inventory consists of 179,000 units that are 70% complete with respect to conversion. Beginning Inventory had $470,080 of direct materials and $170,060 of conversion cost. The direct material cost added in November is $3,145,920, and the conversion cost added is $3,231,140. Beginning work in process consisted of 62,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 62,000 were from beginning work In process and 663,000 units were started and completed during the period. Problem 16-2A Part 2 2. Compute both the direct material cost and the conversion cost per equivalent unit. Cost per equivalent unit of production Materials Conversion Total costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Costs EUP Costs EUP < Prev 3 4 of 4 Next >> M