Metaline Corp

question 60

Multiple Choice

Metaline Corp.uses the weighted average method for inventory costs and had the following information available for the year.

-Calculate the equivalent units of production for the year:

• A)3,200 units.
• B)3,320 units.
• C)3,240 units.
• D)3,520 units.
• E)3,800 units.

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Definitions:

Work in Process

Goods that are midway through the manufacturing process but are not fully finished.

Journal Entry

A record in accounting that represents a transaction, consisting of debits and credits, in the financial books.

Raw Materials Used

The initial ingredients or components that are consumed in the manufacturing process to create a finished product.

Journal Entry

A record of financial transactions in the accounting system, ensuring that all changes in financial statements are documented and explained.