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QUESTION
JoyPetro Company refines a variety of petrochemical products. The following data are from the firm's Amarillo plant.
JoyPetro Company refines a variety of petrochemical products. The following data are from the firm's Amarillo plant.
Work in progress, July 1 - 1,900,000 liters
Direct material - 100% Complete
Conversion - 30% Complete
Units started in process during July - 750,00 liters
Work in process, July 31 - 250,000 liters
Direct mail - 100% Complete
Conversion - 70% Complete
Required:
Compute the equivalent units of direct material and conversion for the month of July. Use the weighted-average method of process costing.
