Question: Dubuc produces electronic calculators Suppose Dubuc s standard cost per calculator

Dubuc produces electronic calculators. Suppose Dubuc’s standard cost per calculator is $ 27 for direct materials and $ 63 for conversion costs. The following data apply to August activities:


Requirements
1. Prepare summary journal entries for August using JIT costing, including the entry to adjust the Conversion Costs account.
2. The beginning balance of Finished Goods Inventory was $ 1,700. Use a T-account to find the ending balance of Finished GoodsInventory.
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  • CreatedJanuary 16, 2015
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