Exercise 4-19 Physical Flow and Equivalent Units; Weighted-Average (LO 4-1, 4-3) The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended. Units 20,000 lb. 15,000 lb. Percentage of Completion Direct Material 80% Conversion 60% 30% Work in process, January 1 Work in process, December 31 70% During the year, the company started 120,000 pounds of material in production. Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for the year. Use weighted-average process costing. CALCULATION OF EQUIVALENT UNITS: FIT-FOR-LIFE FOODS CORPORATION Total units to account for Total units accounted for Total equivalent units Weighted Average Method Physical Units Direct Material Percentage of Completion Conversion Equivalent Units Direct Material Conversion % % % % % %