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.