Figure 15.8 shows several data flows running to the general ledger (GL) for the purpose of updating the GL master data. a. For each of the following data flows in Figure 15.8, show the journal entry (in debit/credit journal entry format, with no dollar amounts) that would result (make and state any assumptions you think are necessary): GL standard costs applied update GL RM variances update GL DL variances update GL MOH variances update GL cost of goods completed update b. What other standard cost accounting entries are not included in your answer to requirement a? Show those journal entries; describe when they would be made and what event they are recording.

BuyFind

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
Publisher: Cengage Learning
ISBN: 9781337552127
BuyFind

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
Publisher: Cengage Learning
ISBN: 9781337552127

Solutions

Chapter
Section
Chapter 15, Problem 4P
Textbook Problem

Figure 15.8 shows several data flows running to the general ledger (GL) for the purpose of updating the GL master data.

  1. a. For each of the following data flows in Figure 15.8, show the journal entry (in debit/credit journal entry format, with no dollar amounts) that would result (make and state any assumptions you think are necessary):
  • GL standard costs applied update GL RM variances update
  • GL DL variances update
  • GL MOH variances update
  • GL cost of goods completed update
  1. b. What other standard cost accounting entries are not included in your answer to requirement a? Show those journal entries; describe when they would be made and what event they are recording.

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Chapter 15 Solutions

Accounting Information Systems
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