Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is adde

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Victory Company Uses Weighted Average Process Costing The Company Has Two Production Processes Conversion Cost Is Adde 1 (41.46 KiB) Viewed 33 times

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 74,000 863,000 735,000 202,000 Cost per equivalent unit of production Costs added this period Costs of beginning work in process Total costs + Equivalent units of production (from part 1) Cost per equivalent unit of production $ 182,715 201,735 1,222,785 3,832,965 Direct Materials Percent Complete 100% 100% Costs EUP Conversion Percent Complete 80% $ 384,450 5,055,750 $ 5,440,200 2. Compute cost per equivalent unit of production for both direct materials and conversion. 80% Materials 0 Costs EUP Conversion