Question
Compute the equivalent units of direct material and conversion for the month of July. Use the weighted-average method of process costing. PetroTech Company refines a
Compute the equivalent units of direct material and conversion for the month of July. Use the weighted-average method of process costing.
| PetroTech Company refines a variety of petrochemical products. The following data are from the firm's Amarillo plant. |
| Work in process, July 1 | 1,920,000 | liters |
| Direct material | 100 | % complete |
| Conversion | 35 | % complete |
| Units started in process during July | 770,000 | liters |
| Work in process, July 31 | 254,000 | liters |
| Direct material | 100 | % complete |
| Conversion | 75 | % complete |
| Required: |
| Compute the equivalent units of direct material and conversion for the month of July. Use the weighted-average method of process costing. |
|
Equivalent Units Direct material Conversion |
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Auditing Assurance And Risk
Authors: W. Robert Knechel, Steve Salterio, Brian Ballou
3rd Edition
0324313187, 9780324313185
