Question
Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant: Work-in-process inventory, September 14,190,000gallons Direct materials50% completed Conversion20%
Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant:
Work-in-process inventory, September 14,190,000gallons
Direct materials50% completed
Conversion20% completed
Units started in process during September5,760,000gallons
Work-in-process inventory, September 302,960,000gallons
Direct materials40% completed
Conversion60% completed
Required:
1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method.
2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started