Rework in job costing, journal entry (continuation of 18-35). Assume that the 5 spoiled units of Whitefish
Question:
Rework in job costing, journal entry (continuation of 18-35). Assume that the 5 spoiled units of Whitefish Machine Shop’s Job #10 can be reworked for a total cost $1,800. A total cost of $5,000 associated with these units has already been assigned to Job #10 before the rework.
Prepare the journal entries for the rework, assuming:
a. The rework is related to a specific job.
b. The rework is common to all jobs.
c. The rework is considered to be abnormal.
Step by Step Answer:
Rework in job costing journal entry continuation of 1835 a ...View the full answer
Cost Accounting A Managerial Emphasis
ISBN: 978-0136126638
13th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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