Question Just-in-Time Journal Entries The annual budgeted conversioncosts for a just-in-time cell are $819,000 for 1,950 productionhours. Each unit produced by the cell requires 16 minutes of cellprocess time. During the month, 630 units are manufactured in thecell. The estimated materials costs are $270 per unit. Provide thefollowing journal entries: a. Materials are purchased to produce650 units. b. Conversion costs are applied to 630 units ofproduction. c. 625 units are completed and placed into finishedgoods. Hide a. b. c.
Question Just-in-Time Journal Entries The annual budgeted conversioncosts for a just-in-time cell are $819,000 for 1,950 productionhours. Each unit produced by the cell requires 16 minutes of cellprocess time. During the month, 630 units are manufactured in thecell. The estimated materials costs are $270 per unit. Provide thefollowing journal entries: a. Materials are purchased to produce650 units. b. Conversion costs are applied to 630 units ofproduction. c. 625 units are completed and placed into finishedgoods. Hide a. b. c.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter13: Lean Manufacturing And Activity Analysis
Section: Chapter Questions
Problem 3BE
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Just-in-Time Journal Entries The annual budgeted conversioncosts for a just-in-time cell are $819,000 for 1,950 productionhours. Each unit produced by the cell requires 16 minutes of cellprocess time. During the month, 630 units are manufactured in thecell. The estimated materials costs are $270 per unit. Provide thefollowing journal entries: a. Materials are purchased to produce650 units. b. Conversion costs are applied to 630 units ofproduction. c. 625 units are completed and placed into finishedgoods. Hide a. b. c.
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