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. Percentage of Completion Work in process, January 1 Work in process, December 31 Units 27,000 lb. 23,000 lb. Direct Material 75% 80% Conversion 50% 20% During the year, the company started 176,000 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 Percentage of Completion Equivalent Units Physical Units Direct Material Conversion Direct Material Conversion % % % % % %