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Rainbow Glass Company manufactures decorative glass products. The firm employs a process-costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. The company’s production schedule for October follows:   Units Work in process on October 1 (60% complete as to conversion) 1,000 Units started during October 5,000 Total units to account for 6,000 Units from beginning work in process, which were completed and transferred out during October 1,000 Units started and completed during October 3,000 Work in process on October 31 (20% complete as to conversion) 2,000 Total units accounted for 6,000 Required: Calculate each of the following amounts using weighted-average process costing. Equivalent units of direct material during October. Equivalent units of conversion activity during October.

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Let's restate the problem data and what is being asked, then evaluate each component step by step. Question restatement: - Direct materials are added at the beginning of the process. - Conversion costs are incurred uniformly over the process. - October activity: - Beginning work in process (WIP): 1,000 units, 60% complete as to conversion - Units started during October: 5,000 - Units completed and transferred out during October: 1,000 (from beginning WIP) + 3,000 (started and completed) - Ending WIP (Oct 31): 2,000 units, 20% complete as to conversion - Required using weighted-average: (1) Equivalent units of direct materials; (2) Equivalent units of conversion during October. Option-by-option analysi......Login to view full explanation

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