Business, 05.05.2020 20:04 awdadaddda
Lean Accounting
The annual budgeted conversion costs for a lean cell are $180,000 for 2,000 production hours. Each unit produced by the cell requires 18 minutes of cell process time. During the month, 550 units are manufactured in the cell. The estimated materials costs are $32 per unit. Provide the following journal entries:
a. Materials are purchased to produce 600 units.
b. Conversion costs are applied to 550 units of production.
c. 500 units are completed and placed into finished goods.
a. Raw and In Process Inventory
Accounts Payable
b. Raw and In Process Inventory
Conversion Costs
c. Finished Goods Inventory
Raw and In Process Inventory
Answers: 1
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Required information [the following information applies to the questions displayed below.] the following data is provided for garcon company and pepper company. garcon company pepper company beginning finished goods inventory $ 13,800 $ 18,850 beginning work in process inventory 16,700 20,700 beginning raw materials inventory 8,800 13,500 rental cost on factory equipment 28,250 26,650 direct labor 22,400 37,400 ending finished goods inventory 17,300 14,300 ending work in process inventory 23,200 19,400 ending raw materials inventory 5,900 9,600 factory utilities 11,250 15,000 factory supplies used 10,900 5,700 general and administrative expenses 32,500 44,500 indirect labor 2,500 9,880 repairs—factory equipment 4,820 2,150 raw materials purchases 41,500 63,000 selling expenses 54,800 49,000 sales 238,530 317,510 cash 33,000 23,700 factory equipment, net 222,500 124,825 accounts receivable, net 13,400 23,950 required: 1. complete the table to find the cost of goods manufactured for both garcon company and pepper company for the year ended december 31, 2017. 2. complete the table to calculate the cost of goods sold for both garcon company and pepper company for the year ended december 31, 2017.
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Business, 22.06.2019 08:40
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Lean Accounting
The annual budgeted conversion costs for a lean cell are $180,000 for 2,...
The annual budgeted conversion costs for a lean cell are $180,000 for 2,...
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