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 Unit Percent Complete Percent Complete Beginning work in process inventory 60,000 100% 80% Units started this period 820,000 Units completed and transferred out 700,000 Ending work in process inventory 180,000 100% 30% Beginning work in process inventory Direct materials $ 420,000 Conversion 139,000 $559,000 Costs added this period 2,220,000 Direct materials Conversion 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. Check (2) Conversion cost per equivalent unit, $4.50 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory.