Question
82 Terra Energy Company refines a variety of petrochemical products. The following data are from the firm's Lodi plant. Work in process, November 1 2,000,000
82
Terra Energy Company refines a variety of petrochemical products. The following data are from the firm's Lodi plant.
| Work in process, 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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Financial Accounting
Authors: Robert Libby
1st Canadian Edition
0070891737, 978-0070891739
