Terra Energy Company refines a variety of petrochemical products. The following data are from the firm’s Lodi plant. Work in process, November 1......................................................2,000,000 gallonsDirect material........................................................................................100% completeConversion.................................................................................................25% completeUnits started in process during November..............................950,000 gallonsWork in process, November 30................................................... 240,000 gallonsDirect material.......................................................................................100% completeConversion................................................................................................80% complete Required: Compute the equivalent units of direct material and conversion for the month of November. Use the weighted-average method of process costing.
Terra Energy Company refines a variety of petrochemical products. The following data are from the firm’s Lodi plant.
Work in process, November 1......................................................2,000,000 gallons
Direct material........................................................................................100% complete
Conversion.................................................................................................25% complete
Units started in process during November..............................950,000 gallons
Work in process, November 30................................................... 240,000 gallons
Direct material.......................................................................................100% complete
Conversion................................................................................................80% complete
Required: Compute the equivalent units of direct material and conversion for the month of November. Use the weighted-average method of
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