Question
Fun 'N' Games manufactures various board games. For January there were no beginning inventories of direct materials, and no beginning or ending work-in-process. Only one
Fun 'N' Games manufactures various board games. For January there were no beginning inventories of direct materials, and no beginning or ending work-in-process. Only one indirect manufacturing cost category is currently in use, "Conversion Costs." Journal entries are recorded when materials are purchased and when conversion costs are allocated under backflush costing. Actual Conversion costs - January $400,000 Direct materials purchased - January $1,070,000 Units produced - January 58,800 Units sold - January 41,800 Which of the following entries properly records the cost of goods sold for the month? Question 17 options: Finished Goods Control 1,045,000 Work in Process 1,045,000 Cost of Goods Sold 1,045,000 Finished Goods Control 1,045,000 Cost of Goods Sold 1,045,000 Work in Process 1,045,000 Finished Goods control 1,045,000 Cost of Goods Sold 1,045,000 Cost of Goods Sold 1,470,000 Finished Goods Control 1,470,000
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