Required information Problem 20-1A (Algo) 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. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Units 60,000 890,000 Direct Materials Percent Complete 100% Conversion Percent Complete 80% 745,000 205,000 100% 70% $ 432,250 155,488 $ 587,738 2,892,750 2,954,262 5,847,012 $ 6,434,750 Problem 20-1A (Algo) Part 1 Required: 1. Compute equivalent units of production for both direct materials and conversion. Equivalent Units of Production (EUP) - Weighted Average Method Total units Direct Materials Units Percent Complete EUP Percent Complete Conversion EUP Problem 20-1A (Algo) Part 2 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Materials Total costs + Equivalent units of production (from part 1) Cost per equivalent unit of production Costs EUP Costs EUP Conversion Problem 20-1A (Algo) 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 assignment-Weighted average Completed and transferred out Direct materials Conversion EUP Cost per EUP Total cost Ending work in process Direct materials Conversion Total costs accounted for $ 0.00 $ 0 $ 0.00 0