Terra Energy Company refines a variety of petrochemical products. The following data are form the firms Lodi

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Terra Energy Company refines a variety of petrochemical products. The following data are form the firm’s Lodi plant.

Work in process, 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

Require: Compute the equivalent units of direct material and conversion for the month of November. Use the weighted-average method of process costing.

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Managerial Accounting

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7th Edition

Authors: Ronald W Hilton

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Question Posted: Mar 12, 2013 02:23 AM

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Terra Energy Company refines a variety of petrochemical products. The following data are form the firms Lodi

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