6-31 Equivalent Units; Weighted-Average and FIFO Methods Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant: Work-in-Process Inventory, September 1 4,000,000 gallons Direct materials 50% completed Conversion 20% completed Units started in process during September 4,850,000 gallons Work-in-Process Inventory, September 30 2,400,000 gallons Direct materials 40% completed Conversion 60% completed Required Compute the equivalent units of direct materials and conversion for the month of September. Use both the weighted-average and the FIFO methods.
6-31 Equivalent Units; Weighted-Average and FIFO Methods Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant: Work-in-Process Inventory, September 1 4,000,000 gallons Direct materials 50% completed Conversion 20% completed Units started in process during September 4,850,000 gallons Work-in-Process Inventory, September 30 2,400,000 gallons Direct materials 40% completed Conversion 60% completed Required Compute the equivalent units of direct materials and conversion for the month of September. Use both the weighted-average and the FIFO methods.
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Transcribed Image Text:6-31
Equivalent Units; Weighted-Average and FIFO Methods Murray Chemical Company refines a variety of petrochemical products.
These data are from the firm's Houston plant:
Work-in-Process Inventory, September 1 4,000,000 gallons
Direct materials
50% completed
Conversion
20% completed
Units started in process during September 4,850,000 gallons
Work-in-Process Inventory, September 30 2,400,000 gallons
Direct materials
40% completed
Conversion
60% completed
Required Compute the equivalent units of direct materials and conversion for the month of September. Use both the weighted-average and
the FIFO methods.
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