Business, 07.05.2020 14:57 KaseyT

Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 725,000 units of product to finished goods. At the end of November, the work in process inventory consists of 182,000 units that are 70% complete with respect to conversion. Beginning inventory had $412,685 of direct materials and $63,930 of conversion cost. The direct material cost added in November is $2,761,815, and the conversion cost added is $1,214,670. Beginning work in process consisted of 78,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 78,000 were from beginning work in process and 647,000 units were started and completed during the period.

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Victory Company uses weighted-average process costing to account for its production costs. Conversio...

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