Required information Problem 16-1A (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 Conversion Units Beginning work in process inventory Units started this period 60,000 Percent Complete 100% Percent Complete 80% 820,000 Units completed and transferred out Ending work in process inventory 700,000 180,000 100% 30% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 420,000 139,000 $ 559,000 2,220,000 3,254,000 5,474,000 $ 6,033,000 Problem 16-1A (Static) Part 2 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Costs of beginning work in process Costs added this period Total costs + Equivalent units of production (from part 1) Cost per equivalent unit of production Materials Conversion Costs Costs EUP EUP 0 0