The Sacramento plant of Montero Food Corporation produces a gourmet cheese. The following data pertain to the year ended December 31, 2013:

Percentage of Completion

________________________________Units_______Direct Material_______Conversion Costs_____

Work in Process, January 1 45,000 lb 65% 85%

Work in Process, December 31 60,000 lb 80% 45%

During the year, the company started 200,000 pounds of material into production.

Required

Prepare a schedule analyzing the physical flow of units and computing the equivalent units for both material and conversion costs for the year.