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Required information [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes.
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 com Is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional Information for the first process follows. Units Direct Materials Percent Complete Conversion Percent Complete Beginning work in process inventory Units started this period 64,000 100% 80% 918,000 Units completed and transferred out 775,000 Ending work in process inventory 207,000 100% 40% Beginning work in process inventory Direct materials Conversion $382,980 128,670 $ 511,650 Costs added this period Direct materials Conversion Total costs to account for 2,563,020 2,444,730 5,007,750 $ 5,519,400 Required
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