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

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

FINANCIAL ACCOUNTING
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.
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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