Under an ideal JIT production sytsem how would the amounts in your journal entries differ from those in requirement 1
The lim company has a plant that manufacturers transistor radios. the production time is only a few minutes per unit. the company uses just in time production system and a backflush costing sytem with two trigger points for
purchases of direct (raw) materials
completion of goods finished units of product
There are no beginning inventories the following data pertain to April manufacturing:
Direct material purchased 8.800
direct materials used 8,500
conversion cost incurred 4.220
Allocation of conversion costs 4,000
costs transferred to finished goods 12,500
Cost of goods sold 11,900
Required
Under an ideal JIT production sytsem how would the amounts in your journal entries differ from those in requirement 1
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
