Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The following data pertain to the company's sawmill:

Work-in-process inventory, January 1

(materials: 60%, conversion: 40%)...................................... 30,000 units

Work-in-process inventory, December 31

(materials: 70%, conversion: 60%)....................................15,000 units

During the year the company started 180,000 units in production.

Required

Prepare a physical flow schedule and compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method.