E5.23 LO 5.2 Physical flow and equivalent units; weighted average: manufacturer Taste Ltd produces low-fat salad dressing. The following data relate to the year just ended: Percentage of completion Units Direct material Work in process, 1 January 80000 litres 60% Conversion 40% Work in process, 31 December 60000 litres 70% 20% During the year the company started 400 000 litres of material in production. Required Prepare a schedule analysing the physical flow of units and calculating the equivalent units of both direct material and conversion for the year. Use weighted average process costing.