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 Total units Units 67,000 852,000 710,000 209,000 Units $ 298,675 112,263 1,998,825 2,132,987 Direct Materials Conversion Percent Percent Complete 100% Complete 80% 100% Required: 1. Compute equivalent units of production for both direct materials and conversion. Percent Complete $ 410,938 4,131, 812 $ 4,542,750 Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials EUP 90% Conversion Percent Complete EUP
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 Total units Units 67,000 852,000 710,000 209,000 Units $ 298,675 112,263 1,998,825 2,132,987 Direct Materials Conversion Percent Percent Complete 100% Complete 80% 100% Required: 1. Compute equivalent units of production for both direct materials and conversion. Percent Complete $ 410,938 4,131, 812 $ 4,542,750 Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials EUP 90% Conversion Percent Complete EUP
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 11E: The charges to Work in ProcessAssembly Department for a period, together with information concerning...
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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.
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
Total units
Units
67,000
852,000
710,000
209,000
Units
$ 298,675
112,263
1,998,825
2,132,987
Direct
Materials Conversion
Percent
Percent
Complete
100%
Complete
80%
100%
Required:
1. Compute equivalent units of production for both direct materials and conversion.
Percent
Complete
$ 410,938
4,131, 812
$ 4,542,750
Equivalent Units of Production (EUP) - Weighted Average Method
Direct Materials
EUP
90%
Conversion
Percent
Complete
EUP](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faee0d9cd-2730-4c97-b186-de60c230706d%2Fc7794a98-6bb2-4d01-b66f-2224bd3cca96%2Fegonhad_processed.jpeg&w=3840&q=75)
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.
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
Total units
Units
67,000
852,000
710,000
209,000
Units
$ 298,675
112,263
1,998,825
2,132,987
Direct
Materials Conversion
Percent
Percent
Complete
100%
Complete
80%
100%
Required:
1. Compute equivalent units of production for both direct materials and conversion.
Percent
Complete
$ 410,938
4,131, 812
$ 4,542,750
Equivalent Units of Production (EUP) - Weighted Average Method
Direct Materials
EUP
90%
Conversion
Percent
Complete
EUP
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