Xeno Products uses a JIT system to manufacture trading pins for the 2008 Olympic Games in China.

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Xeno Products uses a JIT system to manufacture trading pins for the 2008 Olympic Games in China. The standard cost per pin is $\$ 2$ for raw materials and $\$ 3$ for conversion costs. Last month Xeno recorded the following data:

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Use JIT costing to prepare journal entries for the month, including the entry to close the Conversion Costs account.

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Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

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Question Posted: May 14, 2024 10:02 AM

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Xeno Products uses a JIT system to manufacture trading pins for the 2008 Olympic Games in China.

Question:

Number of pins completed Number of pins sold 4,000 pins 3,500 pins Raw material purchases Conversion costs $ 9,000 $13,000

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Accounting

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