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Can you do all two requirements, thank you Cameron produces electronic calculators. Suppose Cameron's standard cost per calculator is $20 for direct materials and $65
Can you do all two requirements, thank you
Cameron produces electronic calculators. Suppose Cameron's standard cost per calculator is $20 for direct materials and $65 for conversion costs. The following data apply to August activities: (Click the icon to view the data.) Requirements 1. Prepare summary journal entries for August using JIT costing, including the entry to adjust the Conversion Costs account. 2. The beginning balance of Finished Goods Inventory was $1,700. Use a T-account to find the ending balance of Finished Goods Inventory. Requirement 1. Prepare summary journal entries for August using JIT costing, including the entry to adjust the Conversion Costs account. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the purchase of raw materials. Data Table - Date Accounts Debit Credit Aug. 6,400 20,000 Direct materials purchased (on account) Conversion costs incurred Number of calculators produced Number of calculators sold (on account, at $118 each) 300 calculators 295 calculators Print DoneStep by Step Solution
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