Question
In: Accounting
Rawlings, Inc. manufactures a single product. All manufacturing costs are added uniformly at the same rate....
Rawlings, Inc. manufactures a single product. All manufacturing costs are added uniformly at the same rate. There were 7,500 units in beginning work in process on January 1, which were 30% complete. During January, 26,750 units were completed and transferred to finished goods. There were 3,750 units that were 80 percent complete remaining in work-in-process at January 31. The equivalent units in January for direct materials using the weighted average method were:
29,950 units
30,350 units
30,500 units
29,750 units
None of the answers listed are correct
27,500 units
37,250 units
26,750 units
Solutions
Expert Solution
Correct answer-----------29,750 units
Working
| Statement of Equivalent Units(Weighted average) | |||||||
| Material | |||||||
| Units | Complete % | Equivalent units | |||||
| Transferred out | 26,750 | 100% | 26,750 | ||||
| Ending WIP | 3,750 | 80% | 3,000 | ||||
| Total | 30,500 | Total | 29,750 | ||||
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