Murray Chemical Company refines a variety of petrochemical products. These data are from the firms Houston plant:

Work-in-process inventory, September 1 4,200,000 gallons

Direct materials 50% completed

Conversion 20% completed

Units started in process during September 4,860,000gallons

Work-in-process inventory, September 30 2,530,000gallons

Direct materials 40% 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.