Victory Company uses weighted average process costing. The company has two production 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. Problem 20-1A Weighted average: Cost per equivalent unit costs assigned to products P1 Beginning work in process inventory Direct materials $420,000 139.000 $ 559,000 Direct Materials Conversion Units Percent Complete Percent Complete Conversion.. Beginning work in process inventory.. 60,000 100% 80% Costs added this period Units started this period.... 820,000 Direct materials Conversion 2,220,000 Units completed and transferred out... 700,000 Ending work in process inventory.... 180,000 100% 30% Total costs to account for 3,254,000 5,474,000 $6,033,000 Required 1. Compute equivalent units of production for both direct materials and conversion. 2. Compute cost per equivalent unit of production for both direct materials and conversion. 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Check (2) Conversion cost per equivalent unit, $4.50