Required information [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 Units Beginning work in process inventory Units started this period 65,000 Percent Percent Complete Complete 100% 80% 902,000 Units completed and transferred out Ending work in process inventory 770,000 197,000 100% 40% Beginning work in process inventory Direct materials $ 377,130 106,100 $ 483,230 Conversion Costs added this period Direct materials Conversion Total costs to account for 2,523,870 2,015,900 4,539,770 $ 5,023,000 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Materials Total costs Costs Costs + Equivalent units of production (from part 1) Cost per equivalent unit of production EUP EUP Conversion