The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended. Percentage of Completion Units Direct Material Conversion Work in process, January 1 24,000 lb. 75 % 50 % Work in process, December 31 20,000 lb. 75 % 15 % During the year, the company started 168,000 pounds of material in production. Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for the year. Use weighted-average process costing