JoyPetro Company refines a variety of petrochemical products. The following data are from the firm’s Amarillo plant.

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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.

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