The Superior Chemical Company Ltd. refines a variety of petrochemical products. The following data is from the firms Altona plant.

Work in process, August 1

Units started in process during August Work in process, August 31

Direct material Conversion

Direct material Conversion

1,000,000 liters 100% complete 25% complete 475,000 liters 120,000 liters 100% complete 80% complete

Required

1. Calculate the equivalent units of direct material and conversion for the month of August. Use the

   weighted average method of process costing.

2. Repeat requirement (1) using the FIFO method.