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  • Journal Entries:: Raw and in Process 367,000 Finished Goods Accounts Payable Raw and in Process 365,400

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    Angela Chan-Cuison
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    The document contains journal entries and computations for a company's raw materials, work in process, finished goods, and cost of goods sold for April. It records raw materials received on credit, conversion costs, and the transfer of inventory between raw materials, work in process and finished goods accounts for the period. The ending balances and amounts to be backflushed from work in process for raw materials are computed.

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    E 10-8

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    The document contains journal entries and computations for a company's raw materials, work in process, finished goods, and cost of goods sold for April. It records raw materials received on credit, conversion costs, and the transfer of inventory between raw materials, work in process and finished goods accounts for the period. The ending balances and amounts to be backflushed from work in process for raw materials are computed.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    24 views1 page

    Journal Entries:: Raw and in Process 367,000 Finished Goods Accounts Payable Raw and in Process 365,400

    Uploaded by

    Angela Chan-Cuison
    The document contains journal entries and computations for a company's raw materials, work in process, finished goods, and cost of goods sold for April. It records raw materials received on credit, conversion costs, and the transfer of inventory between raw materials, work in process and finished goods accounts for the period. The ending balances and amounts to be backflushed from work in process for raw materials are computed.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    E 10-8

    Journal entries:
    Raw and in process 367,000 Accounts payable Raw and in process Cost of goods sold 400

    Angela chan Ba 116 Finished goods 365,400 367,000 Raw and in process 365,400

    400

    Computations:
    Beginning balance, rip Less: Conversion cost Materials, april 1 31,000 (1,400) 29,600 ending balance, rip 33,000 Less: conversion cost(1,800) Materials, april 30 31,200

    Materials, april 1 Add: materials received on credit Less: Materials, april 30 Amount to be backflushed

    29,600 Conversion cost, april 30 1,800 367,000 Conversion cost, april 1 (1,400) 396,600 Increase in conversion cost 400 (31,200) 365,400

    E 10-8

    Journal entries:
    Raw and in process 367,000 Accounts payable Raw and in process Cost of goods sold 400

    Angela chan Ba 116 Finished goods 365,400 367,000 Raw and in process 365,400

    400

    Computations:
    Beginning balance, rip Less: Conversion cost Materials, april 1 31,000 (1,400) 29,600 ending balance, rip 33,000 Less: conversion cost(1,800) Materials, april 30 31,200

    Materials, april 1 Add: materials received on credit Less: Materials, april 30 Amount to be backflushed

    29,600 Conversion cost, april 30 1,800 367,000 Conversion cost, april 1 (1,400) 396,600 Increase in conversion cost 400 (31,200) 365,400

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