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 Units 67,000 Direct Materials Percent Complete 100% Conversion Percent Complete 80% 921,000 790,000 198,000 100% 70% $577,980 139,290 $ 717,270 3,868,020 2,646,510 6,514,530 Total costs to account for $ 7,231,800 Direct materials Conversion 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 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 Costs Costs EUP EUP 0 Conversion