Problem 20-1A Weighted average: Cost per equivalent unit, costs assigned to products P1 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 Percent Complete Percent Complete 100% 80% Unit Beginning work in process inventory 60,000 Units started this period 820,000 Units completed and transferred out 700.000 Ending work in process inventory 180.000 100% 30% $ 420.000 139 000 $ 559.000 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 2.220,000 3254.000 5.474 000 $5.033.000 ed on Ending work in process inventory 700.000 180,000 100% 30 % $ 420,000 139,000 $ 559.000 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 2.220,000 3.254 000 5.474 000 58 037 000 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 21 Conversion cost prevalent unit 5450 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory