Rawlings, Inc During January, 26,750 Units Were Completed and Transferred to the Mixing

question 152

Multiple Choice

Rawlings, Inc. manufactures a product that passes through two processes: mixing and molding. All manufacturing costs are added uniformly in the Mixing Department. Information for the Mixing Department for January follows: $\begin{array}{lr}\text { Work in process, January 1: } & \\\text { Units (35\% complete) } & 7,500 \\\text { Direct materials } & \$ 36,000 \\\text { Direct labor } & \$ 45,000 \\\text { Overhead } & \$ 15,000\end{array}$ During January, 26,750 units were completed and transferred to the Molding Department. The following costs were incurred by the Mixing Department during January: $\begin{array}{lr}\text { Direct materials } & \$ 133,050 \\\text { Direct labor } & 180,000 \\\text { Overhead (applied) } & 45,000\end{array}$
There were 2,500 units that were 80 percent complete remaining in Mixing at January 31. The amount of total costs to account for is

• A)$454,050.
• B)$396,000.
• C)$360,000.
• D)none of the above.

Interpret statistical measures of association and risk in epidemiologic studies.

Assess the impact of interventions (e.g., sunscreen use) on health outcomes in randomized control trials.

Understand the concepts of exposure and control groups in observational studies.

Understand the fundamental principles of negotiation.

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Definitions:

Material Price Variances

The difference between the actual cost of materials and the standard or expected cost, multiplied by the quantity purchased.

Time Materials

A pricing model where a customer pays based on the actual time spent on a project and the cost of materials used.

Recognition Of Variances

The process of identifying and documenting the differences between actual and budgeted costs.

Flexible Budgets

Budgets that adjust or flex with variations in activity levels or other relevant factors, allowing more accurate comparisons to actual results.