Problem 3 The Santa Rosa Company that manufactures baby dolls seeks to streamline its costing system. It will use a backflush costing system with three trigger system points. Purchase of Raw materials Completion of units sSale of Finished Goods There are no beginning inventories. The following data pertains to April 2020: Raw Materials Purchased P440,000 425,000 211,000 200,000 625,000 595,000 Raw Materials used Conversion costs incurred Conversion costs applied Cost transferred to finished goods Costs of Goods sold Required: Prepare summary journal entries for April (without disposing of under-applied or over- pplied conversion costs). Assume no direct materials variances.

Problem 3 The Santa Rosa Company that manufactures baby dolls seeks to streamline its costing system. It will use a backflush costing system with three trigger system points. Purchase of Raw materials Completion of units sSale of Finished Goods There are no beginning inventories. The following data pertains to April 2020: Raw Materials Purchased P440,000 425,000 211,000 200,000 625,000 595,000 Raw Materials used Conversion costs incurred Conversion costs applied Cost transferred to finished goods Costs of Goods sold Required: Prepare summary journal entries for April (without disposing of under-applied or over- pplied conversion costs). Assume no direct materials variances.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter12: Activity-based Management

Section: Chapter Questions

Problem 2CE: Assume that at the beginning of 20x2, Cicleta trained the 2 assembly workers in a new approach that...

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