Can anyone help me with this solution pleasee with calculations?? 6-31Equivalent 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 gallonsDirect materials50% completedConversion20% completedUnits started in process during September 4,850,000 gallonsWork-in-Process Inventory, September 30 2,400,000 gallonsDirect materials40% completedConversion60% completedRequired Compute the equivalent units of direct materials and conversion for the month of September. Use both the weighted-average andthe FIFO methods.

FIFO: First in First out. Ending inventory includes the most recent incurred cost. Weighted Average:…

Answered: Units; Weighted-Average and Murray…

Business

Accounting

Units; Weighted-Average and Murray Chemical Company refines a variety of petrochemical products

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Can anyone help me with this solution pleasee with calculations??

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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