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Author Question: Morgan Clay Products manufactures clay molded pottery on an assembly line. Its standard costing ... (Read 120 times)

elizabeth18

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on: Mar 6, 2021
Morgan Clay Products manufactures clay molded pottery on an assembly line. Its standard costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Molding Department and the Finishing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production.

Data for the Assembly Department for August 2017 are:
Work in process, beginning inventory:2600 units
 Direct materials (100% complete)
 Conversion costs (35% complete)

Units started during August715 units
Work in process, ending inventory:520 units
 Direct materials (100% complete)
 Conversion costs (55% complete)

Costs for August:
 Standard costs for Assembly:
Direct materials$18 per unit
Conversion costs$35.50 per unit

 Work in process, beginning inventory:
Direct materials$12,600
Conversion costs$8250
Which of the following journal entries records the Molding Department's conversion costs for the month, assuming conversion costs are 20% higher than expected?
◦
Molding Department Conversion Cost Control15,414.10
Various accounts 15,414.10
◦
Materials Inventory77,070.50
Molding Department Conversion Cost Control77,070.50

◦
Molding Department Conversion Cost Control92,484.60
 Various accounts 92,484.60
◦
Materials Inventory92,484.60
Work in Process - Molding92,484.60
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by elizabeth18 on Mar 6, 2021

IAPPLET

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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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elizabeth18

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Reply 2 on: Mar 6, 2021
Wow, this really help

brbarasa

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Reply 3 on: Yesterday
Gracias!

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