Answer:
Victory Company
                                                        Materials           Conversion    Total
a. Equivalent units of production:  880,000             754,000
b. Cost per equivalent unit                  $3.00             $4.50
c. Total cost transferred out       $2,100,000        $3,150,000  $5,250,000
Ending Work in Process                  540,000             243,000        783,000
Explanation:
a) Data and Calculations:
Units transferred out = 700,000
Ending Work in process = 180,000
Total equivalent units:
                                            Materials           Conversion
Units transferred out      700,000 (100%)   700,000 (100%)
Ending Work-in-Process  180,000 (100%)     54,000 (30%)
Total equivalent units     880,000               754,000
Cost of production:
                                            Materials           Conversion       Total
Beginning Inventory          $420,000          $139,000       $559,000
Added in November         2,220,000        3,254,000       5,474,000
Total production costs   $2,640,000      $3,393,000    $6,033,000
Cost per equivalent unit:
                                            Materials       Conversion 
Total production costs   $2,640,000      $3,393,000
Total equivalent units          880,000           754,000
Cost per equivalent unit         $3.00             $4.50
Cost assigned:
                                                Materials           Conversion       Total
Units transferred out             700,000               700,000
Cost per equivalent unit        $3.00                   $4.50
Total cost transferred out $2,100,000        $3,150,000  $5,250,000
Ending Work in Process        540,000             243,000        783,000
Total cost                          $2,640,000        $3,393,000  $6,033,000