Equivalent Units; Weighted-Average
Terra Energy Company relines a variety of petrochemical products. The following data are from the firm's Lodi plant.
Work in process on November 1 | 2.000,000 gallons |
Direct material | 100% complete |
Conversion | 25% complete |
Units started in process during November | 950,000 gallons |
Work in process,November 30 | 240,000 gallons |
Direct material | 100% complete |
Conversion | 80% complete |
Required: Compute the equivalent units of direct material and conversion for the month of November. Use the weighted-average method of process costing.
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