The company uses the average costing


Olivares Enterprises makes Rainberry Shampoo for professional hair stylists. On July 31, 2015, 5,200 liters of shampoo were in process, 80 percent complete for conversion costs and 100 percent complete for direct materials costs. During the month of August, 212,500 liters of direct materials were put into production. Data for work in process inventory on August, 31, 2015, were as follows: Shampoo, 4,500 liters; state of completion is 60% for conversion costs and 100 percent for direct materials content.

Using the data above prepare a schedule of equivalent production for August 2015, assuming the company uses the average costing method.

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Accounting Basics: The company uses the average costing
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