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 68,000 921,000 790,000 199,000 Units $ 257,140 177,900 1,720,860 3,380,100 Direct Materials Percent Complete 100% Percent Complete 100% Required: 1. Compute equivalent units of production for both direct materials and conversion. Conversion Percent Complete 80% $ 435,040 5,100,960 $ 5,536,000 Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials EUP 50% Percent Complete Conversion EUP

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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[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
Direct materials
Conversion
Total costs to account for
Total units
Units
68,000
921,000
790,000
199,000
Units
$ 257,140
177,900
1,720,860
3,380,100
Direct
Materials
Percent
Complete
100%
100%
Percent
Complete
Required:
1. Compute equivalent units of production for both direct materials and conversion.
Conversion
Percent
Complete
80%
$ 435,040
5,100,960
$ 5,536,000
Equivalent Units of Production (EUP) - Weighted Average Method
Direct Materials
EUP
50%
Percent
Complete
Conversion
EUP
Transcribed Image Text:13 k ces Required information [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 Direct materials Conversion Total costs to account for Total units Units 68,000 921,000 790,000 199,000 Units $ 257,140 177,900 1,720,860 3,380,100 Direct Materials Percent Complete 100% 100% Percent Complete Required: 1. Compute equivalent units of production for both direct materials and conversion. Conversion Percent Complete 80% $ 435,040 5,100,960 $ 5,536,000 Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials EUP 50% Percent Complete Conversion EUP
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