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 Units 24,000 lb. 20,000 lb. Direct Material Conversion Work in process, January 1 Work in process, December 31 75% 75% 50% 15% During the year, the company started 168,000 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 Weighted-Average Method Percentage of CompletionEquivalent Units Physical Direct Physicalct ConversionMaterial Conversion Material Units Total units to account for Total units accounted for Total equivalent units