Question: Golner produces electronic calculators Suppose Golner s standard cost per

Golner produces electronic calculators. Suppose Golner s standard cost per calculator is $20 for direct materials and $61 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 $1,300. Use a T-account to find the ending balance of Finished Goods Inventory.

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  • CreatedJune 15, 2015
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