Exercise 16-12 (Algo) Weighted average: Cost per equivalent unit; costs assigned to products LO P1 Hi-T Company uses the weighted average method of process costing. Information for the companys first production process follows. All direct materials are added at the beginning of this process, and conversion costs are added uniformly throughout the process. Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 6,000 100% 80% Completed and transferred out