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Compute the equivalent units of direct materials

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Question - Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant:

Work-in-process inventory, September 14,190,000 gallons

Direct materials 50% completed

Conversion 20% completed

Units started in process during September 5,760,000 gallons

Work-in-process inventory, September 302,960,000 gallons

Direct materials 40% completed

Conversion 60% completed

Required -

1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method.

2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method.

Reference no: EM132649270

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