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Haupt Inc. manufacturers water pumps. Each pump requires $155 of raw materials and $315 of conversion costs. Each pump is sold for $725. Last month
Haupt Inc. manufacturers water pumps. Each pump requires $155 of raw materials and $315 of conversion costs. Each pump is sold for $725. Last month Haupt produced and sold 69 pumps. The journal entry to apply conversion costs to production would include: Multiple Choice O O O O Debit to work in process inventory of $21,735. Credit to sales of $21,735. Debit to cost of goods sold of $31,735. Credit to work in process inventory of $21,735. Debit to accounts payable of $31,735.
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