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Author Question: Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct ... (Read 43 times)

asd123

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on: Mar 6, 2021
Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct materials are included at the inception of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Inspection takes place as units are placed into production. After inspection, some units are spoiled due to undetectable material defects. Spoiled units generally constitute 4% of the good units. Data provided for February 2017 are as follows:

WIP, beginning inventory 2/1/201751,000 units
 Direct materials (100% complete)
 Conversion costs (60% complete)

Started during February170,500 units
Completed and transferred out180,100 units
WIP, ending inventory 2/28/201726,600 units
 Direct materials (100% complete)
 Conversion costs (25% complete)

Costs:
 WIP, beginning inventory:
Direct materials$280,300
Conversion costs80,900
Direct materials added408,200
Conversion costs added264,200

Which of the following journal entries correctly represents the transfer of completed goods begun during February using the FIFO method of process costing? (Round any cost per unit calculations to the nearest cent.)
◦
Finished Goods508,654
Work in Process508,654

◦
Loss from Spoilage29,928
Finished Goods29,928

◦
Finished Goods929,858
Work in Process929,858

◦
Finished Goods408,630
Work in Process408,630
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by asd123 on Mar 6, 2021

b614102004

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Reply #1 on: Mar 6, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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asd123

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Reply 2 on: Mar 6, 2021
Great answer, keep it coming :)

carlsona147

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Reply 3 on: Yesterday
Excellent

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