Problemmurray chemical company refines a variety of, Ask an Expert

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Problem

Murray Chemical Company refines a variety of petrochemical products. These data are from the firm's Houston plant:

Work-in-process inventory, September 1 4,560,000 gallons
Direct materials 50% completed
Conversion 20% completed
Units started in process during September 5,500,000 gallons
Work-in-process inventory, September 30 3,300,000 gallons
Direct materials 40% completed
Conversion 60% completed

Required:

a. Compute the equivalent units of direct materials and conversion for the month of September using the weighted-average method.

b. Compute the equivalent units of direct materials and conversion for the month of September using the FIFO method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92759342

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