Question

For the first process:

1. Determine the eqivalent units of production with respect to direct materials and conversion.

mework Saved Required information Problem 16-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 (The following information applies to the questions displayed below.) Victory Company uses weighted average process costing to account for its production costs. Conve evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 780,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 191,000 units that are 70% complete with respect to conversion. Beginning work in process inventory had $568,035 of direct materials and $91,370 of conversion cost. The direct material cost added in November is $3,801,465, and the conversion cost added is $1,736,030. Beginning work in process consisted of 75,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion of the units completed, 75,000 were from beginning work in process and 705,000 units were started and completed during the period. Problem 16-2A Part 1 Required: For the first process: 1. Determine the equivalent units of production with respect to direct materials and conversion Equivalent Units of Production (EUP)-Weighted Average Method Units Materials EUP. Materials Conversion EUP. Conversion Total units

Answer 1

	Units	% Material	EUP-Material	% Conversion	EUP-Conversion
Units completed / Transferred	780,000	100%	780,000	100%	780,000
Ending Work in process	191,000	100%	191,000	70%	133,700
Total units	971,000		971,000		913,700