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Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The...

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Accounting

Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The following data pertain to the companys sawmill:
Work-in-process inventory, January 1
(direct materials: 60%, conversion: 40%)35,200 units
Work-in-process inventory, December 31
(direct materials: 70%, conversion: 60%)17,600 units
During the year the company started 194,000 units in production.
Required:
1. Prepare a physical flow schedule.
2. Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method.

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