The budgeted conversion costs for a just-in-time cell are $202,400 for 4,000 production hours. Each unit produced by the cell requires 15 minutes of cell process time. During the month, 1,500 units are manufactured in the cell. The estimated materials cost is $55 per unit. What would be the journal entry to record the conversion costs applied to the 1,500 units of production? a. Finished Goods Inventory18,975 Conversion Costs18,975 b. Raw and In Process Inventory75,900 Conversion Costs75,900 c. Finished Goods Inventory75,900 Conversion Costs75,900 d. Raw and In Process Inventory18,975 Conversion Costs18,975
The budgeted conversion costs for a just-in-time cell are $202,400 for 4,000 production hours. Each unit produced by the cell requires 15 minutes of cell process time. During the month, 1,500 units are manufactured in the cell. The estimated materials cost is $55 per unit. What would be the journal entry to record the conversion costs applied to the 1,500 units of production? a. Finished Goods Inventory18,975 Conversion Costs18,975 b. Raw and In Process Inventory75,900 Conversion Costs75,900 c. Finished Goods Inventory75,900 Conversion Costs75,900 d. Raw and In Process Inventory18,975 Conversion Costs18,975
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
Related questions
Question
The budgeted conversion costs for a just-in-time cell are $202,400 for 4,000 production hours. Each unit produced by the cell requires 15 minutes of cell process time. During the month, 1,500 units are manufactured in the cell. The estimated materials cost is $55 per unit.
What would be thejournal entry to record the conversion costs applied to the 1,500 units of production?
What would be the
a. Finished Goods Inventory18,975
Conversion Costs18,975
b. Raw and In Process Inventory75,900
Conversion Costs75,900
c. Finished Goods Inventory75,900
Conversion Costs75,900
d. Raw and In Process Inventory18,975
Conversion Costs18,975
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,