Exercise 6-30 (Algo) Equivalent Units; Weighted-Average Method [LO 6-2, 6-4) Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The following data pertain to the company's sawmill: 49,000 units Work-in-process inventory, January 1 (direct materials: 60%, conversion: 40%) Work-in-process inventory, December 31 (direct materials: 70%, conversion: 60%) 24,500 units During the year the company started 222,000 units in production. Required: 1. Prepare a physical flow schedule. 2. Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a physical flow schedule. Quantity Schedule (in units) Input Work-in-process inventory Units started Total units to account for Output Units completed Work-in-process inventory Total units accounted for Required 1 Required 2 Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted average method. Equivalent Units Direct materials Conversion