Petro Tech Company refines a variety of petrochemical products. The following data are from the firm's Amarillo plant. Compute the equivalent units of direct material and conversion for the month of July. Use the weighted-average method of process costing.
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Petro Tech Company refines a variety of petrochemical products. The following data are from the firm's Amarillo plant.
Work in process, July 1 1,900,000 liters
Direct material 100% complete
Conversion 30% complete
Units started in process during July 750,000 liters
Work in process, July 30 250,000 liters
Direct material 100% complete
Conversion 70% complete
Compute the equivalent units of direct material and conversion for the month of July. Use the weighted-average method of process costing.
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Solution Summary
The equivalent units of direct material and conversions for the month of July are computed. The computations are shown for you. No references are provided.
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Total equivalent units for weighted average method = Beginning units in ...
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