Question: Hi I need help on what is the answer in my activity about process costing. The answers in 1 and 2 is given already for

 Hi I need help on what is the answer in myactivity about process costing. The answers in 1 and 2 is givenalready for references. I just need help on what is the answer

Hi I need help on what is the answer in my activity about process costing. The answers in 1 and 2 is given already for references. I just need help on what is the answer for number 3. Answers with explanation is highly recommended. I hope that you can help me

Problem

for number 3. Answers with explanation is highly recommended. I hope thatyou can help me Problem Sillicon Valley Corporation (SVC), which produces keyboardsfor personal computers. We assume the following information for SVC for themonth of April. There are no beginning inventories of direct materials. Moreover,there is zero beginning and ending work in process. SVC has only

Sillicon Valley Corporation (SVC), which produces keyboards for personal computers. We assume the following information for SVC for the month of April. There are no beginning inventories of direct materials. Moreover, there is zero beginning and ending work in process. SVC has only one direct manufacturing cost strategy (direct materials) and one indirect manufacturing cost category (conversion costs). All manufacturing labor costs are included in conversion costs. - From its bill of materials and an operations list, SVC determines that direct material cost per keyboard unit is P20 and estimated conversion cost is P10. SVC purchases P1,880,000 of direct materials. Actual conversion costs equal P1,280,000. SVC produces 90,000 good keyboard units and sells 87,000 units. Any under allocated or over allocated conversion costs are written off to Cost of goods sold at the end of the month. Ready the following (any item may be asked on the online exam i.e. debits and credit of a particular entry) 1) Journal Entries if: a. Trigger points - Purchase, completion, sale b. Purchase, Sale c. Completion and sale 2) Provide a General Ledger Overview for each 3) Find the following for each a. COGS b. RIP end C. FG end d. Backflushed amounta. Direct materials ---- 1,880,000 Cash/ Accounts Payable ----- 1,880,000 Conversion Cost ----- 1, 280,000 Cash /Payable (payroll)- 1,280,000 Finished Goods 2,700,000 Under Applied Cost- 460,000 Direct Materials- 1,880,000 Conversion Cost 1,280,000 Cost of Good Sold 2,610,000 Finished Goods -2,610,000 Cost of Good Sold 460,000 Under Applied Cost 460,000Ledger : Direct Materials -- 0 balance Conversion Cost --- 0 balance Finished goods --- 90,000 balance (Debit) Cost of Good sold --- 3,070,000 balance (debit) b. Direct materials ---- 1,880,000 Cash/ Accounts Payable ----- 1,880,000 Conversion Cost ----- 1, 280,000 Cash /Payable (payroll)- 1,280,000 Cost of Good Sold - -2,610,000 Finished Goods 90,000 Under Applied Cost - 460,000 Direct Materials 1,880,000 Conversion Cost -1,280,000 Cost of Good Sold -460,000 Under Applied Cost -- 460,000Cost of Good Sold - 460,000 Under Applied Cost 460,000 Ledger : Direct Materials -- 0 balance Conversion Cost --- 0 balance Finished goods --- 90,000 balance (Debit) Cost of Good sold --- 3,070,000 balance (debit) C. Finished Goods 2,700,000 Under Applied Cost- 460,000 Cash/ Any Credit (Payables) -3,160,000 Cost of Good Sold 2,610,000 Finished Goods 2,610,000 Cost of Good Sold 460,000 Under Applied Cost 460,000Ledger : Direct Materials -- 0 balance Conversion Cost --- 0 balance Finished goods --- 90,000 balance (Debit) Cost of Good sold --- 3,070,000 balance (debit)

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