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COST OF QUALITY E-3 Valencia Plastics Corapany uses job order costs system to account for its production costs. During the current period, 1,000 cohairs were
COST OF QUALITY
E-3 Valencia Plastics Corapany uses job order costs system to account for its production costs. During the current period, 1,000 cohairs were molded and assembled on job order number 304 . The total cost jocured on the job is: Inspection was made at the ead of the process and 100 chairs were found to be defective beyond repair, due to excusable negligence on the part of certain workers. The spoiled chairs can be sold at a salvage value of P 100 each. Tha company maintains a separate Spoiled Goods Inventory for defective producy charges the unrecoverable cost of spoilage to Factory Overhead Control. Required: Journal entries to record the transactions, assuming that spoi chargeable to production as internal failure costStep by Step Solution
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