Jack Corporation has a just in time manufacturing system and maintains no ending materials or work...

 

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Jack Corporation has a just in time manufacturing system and maintains no ending materials or work in process inventory balances. Jack uses backflush costing and had the following data for April. Beginning Inventories Units Finished Units Sold Materials purchases and used Direct labor and Factory Overhead incurred and applied Required: 1. Prepare journal entries to reflect the transactions. 2. Compute the finished goods ending inventory balance. 3. Compute the cost of goods sold none 90,000 88,000 375,000 525,000 Jack Corporation has a just in time manufacturing system and maintains no ending materials or work in process inventory balances. Jack uses backflush costing and had the following data for April. Beginning Inventories Units Finished Units Sold Materials purchases and used Direct labor and Factory Overhead incurred and applied Required: 1. Prepare journal entries to reflect the transactions. 2. Compute the finished goods ending inventory balance. 3. Compute the cost of goods sold none 90,000 88,000 375,000 525,000

Answer rating: 100% (QA)

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