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Author Question: Vision Company manufactures digital cameras. For May, there were no beginning inventories of direct ... (Read 142 times)

LCritchfi

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on: Mar 6, 2021
Vision Company manufactures digital cameras. For May, there were no beginning inventories of direct materials and no beginning or ending work-in -process. Conversion costs is the only indirect manufacturing cost category currently used. Journal entries are recorded when materials are purchased and when units are sold.

Conversion costs - May$106,625
Direct materials purchased - May$255,575
Units produced - May90,500 units
Units sold - May78,500 units
Selling price$27 each

Which of the following journal entries properly reflects the purchase of materials under backflush costing?
◦
Inventory Control$255,575
Accounts Payable Control$255,575

◦
Accounts Payable Control$255,575
Allocated Costs: Direct Materials$255,575 

◦
Accounts Payable Control$255,575
Materials Inventory$255,575

◦
Allocated Costs: Direct Materials$255,575
Inventory: Raw and Material$255,575
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by LCritchfi on Mar 6, 2021

Dnite

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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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LCritchfi

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Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it

Jossy

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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