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Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 730,000 units of product to finished goods. At the end of November, the work In procesS inventory consists of 185,000 units that are 50% complete with respect to conversion. Beginning inventory had $297,375 of direct materials and $185,063 of conversion cost. The direct materlal cost added in November is $1,990,125, and the conversion cost added is $3516187. Beginning work in process consisted of 71,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 71,000 were from beginning work in process and 659,000 units were started and completed during the period 3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process Inventory. (Round "Cost per EUP" to 2 declmal places.) Cost per EUP Cost of units transferred out: EUP Total cost Direct materials Conversion Total costs transferred out Cost per EUP Costs of ending work in process EUP Total cost Direct materials $ 0.00 S Conversion $ 0.00 Total cost of ending work in process Total costs accounted for
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