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 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 Direct Materials Conversion Units 80,000 Percent Complete 100% Percent Complete 80% 903,000 790,000 193,000 100% 70% 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production $447,265 185,020 $ 632,285 2,993,235 3,515,380 $ 7,140,900 6,508,615 Materials Total costs Costs Costs Equivalent units of production (from part 1) EUP EUP Cost per equivalent unit of production Conversion