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 Percent Percent Unita Complete Complete Beginning work in process inventory 69,000 1001 BON Units started this period 944,000 Units completed and transferred out 805,000 Ending work in process inventory 200,000 1008 30 Beginning work in process inventory Direct materials Conversion costs added this period Direct materials Conversion Total costs to account for 5592.605 210,565 5011,170 3,965.895 4.152,735 B1101.610 $ 8.929,800 Required: 1. Compute equivalent units of production for both direct materials and conversion Equivalent units of Production (EUP)-Weighted Average Method Units % Materials EUP. Materials % Conversion EUP. Conversion Total units 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 Percent Percent Unite Completa Complete Beginning work in process inventory 69,000 1001 300 Units started this period 944.000 Units completed and transferred out 305,000 Inding work in process inventory 200.000 1003 Beginning work in process inventory Direct materials $592.605 Conversion 218,565 5.811.170 Coats added this period Direct materials 3,965,95 Conversion $152,735 3,116) 6.30 Total conte to account for 58,929,800 2. Compute cost per equivalent unit of production for both direct materials and conversion Cost per equivalent unit of production Materials Conversion Total costs Equivalent units of production (from part 1) Cost per equivalent unit of production Costs EUP Costs EUP 0 um 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 Direct Materials Percent Complete 1008 Unite 69,000 944.000 305,000 200.000 Conversion Percent Complete 308 1001 101 Deginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 592,605 218.565 $ 311,170 3,965,895 4.152.735 3,118,630 $ 8,929,800 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory (Round "Cost per EUP" to 2 decimal places.) EUP Cost per EUP Total cost Cost assignment--Weighted average Completed and transferred out Direct materials Conversion Total completed and transferred out Ending work in process Direct materials Conversion Total ending work in process Total costs accounted for $ 0 0.005 0.00 $ 0
