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

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Accounting

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 61,000 838,000 720,000 179,000 $ 350,610 129,480 2,346, 390 2,460, 120 Direct Materials Percent Complete 100% 100% Conversion Percent Complete

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80% $ 480,090 4,806,510 $ 5,286,600 80%

Required: 1. Compute equivalent units of production for both direct materials and conversion

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