Required information Problem 20-1A (Algo) Weighted average: Cost per equivalent unit; costs assigned to products LO P1 [The following information applies to the questions displayed below.] 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 Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Units Percent Complete Percent Complete 61,000 924,000 100% 80% 800,000 185,000 100% 80% $ 576,225 94,800 $ 671,025 3,856,275 1,801,200 5,657,475 $ 6,328,500 information for the first process follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials. Conversion Costs added this period Direct materials Conversion Total costs to account for Direct Materials Conversion Percent Percent Units Complete Complete 61,000 100% 80% 924,000 800,000 185,000 100% 80% $ 576,225 94,800 $ 671,025 3,856,275 1,801,200 5,657,475 $ 6,328,500 Required: 1. Compute equivalent units of production for both direct materials and conversion. Equivalent Units of Production (EUP)-Weighted Average Method Total units Direct Materials Units Percent EUP Complete Percent Complete Conversion EUP 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Materials Total costs. Equivalent units of production (from part 1) Cost per equivalent unit of production Costs Costs EUP EUP Conversion 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-Weighted average Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion EUP Cost per EUP Total cost Total costs accounted for