Robo-Pool manufactures robotic pool vacuums. Each unit requires $225 of raw materials and $375 of conversion costs and is sold for $700. During a recent month the company produced 120 units and sold 100 units. Prepare journal entries to record each of the following. 1. Purchase of raw materials on credit. 3. Sold 100 units on credit. 2. Applied conversion costs to production. 4. Record ending inventory and cost of goods sold.

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
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Robo-Pool manufactures robotic pool vacuums. Each unit requires $225 of raw materials and $375 of
conversion costs and is sold for $700. During a recent month the company produced 120 units and sold
100 units. Prepare journal entries to record each of the following.
1. Purchase of raw materials on credit. 3. Sold 100 units on credit.
2. Applied conversion costs to production. 4. Record ending inventory and cost of goods sold.

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