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Victory Company uses weighted average process costing. The company has two production processes. Conversion cos is added evenly throughout each process. Direct materials are added
Victory Company uses weighted average process costing. The company has two production processes. Conversion cos is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional 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 Units Cost per equivalent unit of production Costs of beginning work in process Costs added this period Total costs + Equivalent units of production (from part 1) 63,000 885,000 760,000 188,000 $ 369,720 167,040 2,474,280 3,173,760 Direct Materials. Percent Complete 100% 100% Costs EUP $536,760 Conversion Percent Complete 80% 5,648,040 $ 6,184,800 2. Compute cost per equivalent unit of production for both direct materials and conversion. Materials $ $ 40% 369,720 2,474,280 2,844,000 Costs EUP Conversion
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