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Thank you in advance for answering, struggling a bit with this Murray Chemical Company refines a variety of petrochemical products. Murray uses the Weighted Average

Thank you in advance for answering, struggling a bit with this

Murray Chemical Company refines a variety of petrochemical products. Murray uses the Weighted Average method of inventory. Below is data provided from the firm:

Beginning Work in Process 30,000 units

Direct Materials 100% $60,000

Conversion Costs 40% $25,000

Units started 60,000

Units Completed 70,000

Ending Work in Process 30,000 units

Direct Materials 100%

Conversion Costs 80%

Current Costs

Direct Materials $122,500

Conversion Costs $299,300

Beginning Costs

Direct Materials $30,000

Conversion Costs $85,000

  1. Find equivalent units for direct materials and conversion
  2. Find the cost per equivalent unit for direct materials and conversion
  3. Assign total manufacturing costs

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