Please show calculations and formulas 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 Direct Material Conversion

Work in process, January 1 28,000 lb. 75 % 60 %

Work in process, December 31 24,000 lb. 75 % 20 %

During the year, the company started 152,000 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.