Reference no: EM132649270
Question - Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant:
Work-in-process inventory, September 14,190,000 gallons
Direct materials 50% completed
Conversion 20% completed
Units started in process during September 5,760,000 gallons
Work-in-process inventory, September 302,960,000 gallons
Direct materials 40% completed
Conversion 60% completed
Required -
1. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method.
2. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method.