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 75,000 Percent Complete 100% Percent Complete 80% 853,000 Units completed and transferred out Ending work in process inventory 735,000 193,000 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 241,280 200,115 $ 441,395 1,614,720 3,802,185 5,416,905 $ 5,858,300 mpute cost per equivalent unit of production for both direct materials and conversion.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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
Percent
Complete
Percent
Complete
75,000
100%
80%
853,000
735,000
193,000
100%
80%
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
$ 241,280
200, 115
1,614,720
3,802,185
$ 441,395
5,416,905
$ 5,858,300
2. Compute cost per equivalent unit of production for both direct materials and conversion.
Transcribed Image Text: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 Percent Complete Percent Complete 75,000 100% 80% 853,000 735,000 193,000 100% 80% 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 $ 241,280 200, 115 1,614,720 3,802,185 $ 441,395 5,416,905 $ 5,858,300 2. Compute cost per equivalent unit of production for both direct materials and conversion.
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