Stefan Ceramics is in the business of selling ceramic vases. It has two departments - molding and finishing. Molding department purchases tungsten carbide and produces ceramic vases out of it. Ceramic Vases are then transferred to finishing department, which designs it as per the requirement of the customers.
During the month of July, molding department purchased 720 kgs of tungsten carbide at $280 per kg. It started manufacture of 4200 vases and completed and transferred 3800 vases during the month. It has 400 vases in the process at the end of the month. It incurred direct labor charges of $1500 and other manufacturing costs of $1300, which included electricity costs of $300. Stefan had no inventory of tungsten carbide at the end of the month. It also had no beginning inventory of vases. The ending inventory was 50% complete in respect of conversion costs.
Which of the following journal entry would record the tungsten carbide purchased and used in production during July?
◦
| Work in Process-Molding | $3400 |
| | Accounts Payable Control | $3400 |
◦
| Work in Process-Molding | $201,600 |
| Accounts Payable Control | $201,600 |
◦
| Accounts Payable Control | $3400 |
| | Work in Process-Molding | $3400 |
◦
| Accounts Payable Control | $201,600 |
| Work in Process-Molding | $201,600 |
In 1891 William Dean Howells championed the poetry of Emily Dickinson: “This poetry is as characteri
Sample of a business card design.
Business Intelligence, Analytics, and Data Science: A Managerial Perspective, 4th Edition
Business Math Question Solution
International Business Management
Math for Business and Finance: an Algebraic Approach, 3rd Edition Jeffrey Slater