Problem 3-1A (Static) Weighted average: Cost per equivalent unit; costs assigned to products LO P1 (The following information applies to the questions displayed below.] 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 Percent Complete 100% Conversion Percent Complete 80% Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Units 60,000 820,000 700,000 180,000 100% 30% $ 420,000 139,000 $ 559,000 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion 2,220,000 3,254,000 5,474,000 $ 6,033,000 Total costs to account for Problem 3-1A (Static) Part 1 Required: 1. Compute equivalent units of production for both direct materials and conversion. Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials Conversion Units Percent Percent EUP EUP Complete Complete Total units Problem 3-1A (Static) Part 2 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Materials Conversion Total costs Costs Costs EUP EUP - Equivalent units of production (from part 1) Cost per equivalent unit of production 0 0 Problem 3-1A (Static) Part 3 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Cost assignmentWeighted average Completed and transferred out Direct materials EUP Cost per EUP Total cost Conversion Ending work in process Direct materials Conversion $ 0.00 $ 0 | oo $ 0.00 Total costs accounted for