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Question - Conlon Chemicals manufactures paint thinner. Information on the work in process follows:
Beginning inventory, 40,900 partially complete gallons.
Transferred out, 206,000 gallons.
Ending inventory (materials are 19 percent complete; conversion costs are 9 percent complete).
Started this month, 243,900 gallons.
Required -
a. Compute the equivalent units for materials using the weighted-average method.
b. Compute the equivalent units for conversion costs using the weighted-average method.
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