Problem 20-1A Weighted average: Cost per equivalent unit; costs assigned to products Op1 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 Unit Percent Complete Percent Complete 100% 80% 60,000 Beginning work in process inventory Units started this period 820,000 Units completed and transferred out 700.000 ? Ending work in process inventory 180,000 100% 30% Beginning work in process inventory Direct materials $ 420,000 139.000 $ 559,000 Conversion Costs added this period Direct materials 2,220,000 Conversion 3.254.000 5.474.000 $6.033.000 Total costs to account for Conversion 3,254,000 Total costs to account for 5,474,000 $6,033,000 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 (2) Conversion cost per equivalent unit, $4.50 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Page 760 Problem 20-2A Weighted average: Production cost report Qpz @p4 TS 65F Sunny a ch Ei