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 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 60,000 100% 80% 820,000 700,000 180,000 100% 30% $ 420,000 139,000 $ 559,000 2,220,000 3,254,000 5,474,000 $ 6,033,000 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 Complete EUP Percent Complete Conversion EUP