Record standard cost of goods transferred to Finished Goods and of cost of goods sold. (Obj. 7).
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Record standard cost of goods transferred to Finished Goods and of cost of goods sold. (Obj. 7). Stamford Company uses a standard cost system. The total standard cost per unit for materials, labor, and overhead is $120.50. During June 19X9, a total of 2,000 units were completed and transferred to Finished Goods. During the month 1,800 units were sold for $200 each. Give the general journal entries to record the cost of units transferred to finished goods and the cost of units sold during the month.
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Cost Accounting Principles And Applications
ISBN: 9780028034287
6th Edition
Authors: Horace R. Brock, Linda Herrington
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