Problem 16-2A Weighted average: Cost per equivalent unit; costsassigned to products LO C2, C3
[The following information applies to the questionsdisplayed below.]
Victory Company uses weighted-average process costing to accountfor its production costs. Conversion cost is added evenlythroughout the process. Direct materials are added at the beginningof the process. During November, the company transferred 740,000units of product to finished goods. At the end of November, thework in process inventory consists of 191,000 units that are 70%complete with respect to conversion. Beginning inventory had$544,635 of direct materials and $218,425 of conversion cost. Thedirect material cost added in November is $3,644,865, and theconversion cost added is $4,150,075. Beginning work in processconsisted of 70,000 units that were 100% complete with respect todirect materials and 80% complete with respect to conversion. Ofthe units completed, 70,000 were from beginning work in process and670,000 units were started and completed during the period.
Problem 16-2A Part 3
3. Compute the direct material cost and theconversion cost assigned to units completed and transferred out andending work in process inventory. (Round "Cost per EUP" to2 decimal places.)
EUP Cost per EUP Total cost
Cost of units transferred out:
Direct materials
Conversion
Total costs transferred out
Cost of ending work in process
Direct materials
Conversion
Total cost of ending work inprocess
Total costs accounted for
