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i need help on the journaling part. Maple Leaf Production manufactures truck tires. The following information is available for the last operating period. - Maple
i need help on the journaling part.
Maple Leaf Production manufactures truck tires. The following information is available for the last operating period. - Maple Leaf produced and sold 92,000 tires for $40 each. Budgeted production was 100,000 tires. - Standard variable costs per tire follow. - Fixed production overhead costs: Monthly budget $1,350,000 - Fixed overhead is applied at the rate of $15.00 per tire. - Actual production costs: c. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to cost of goods sold at the end of the operating period. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to cost of goods sold at the end of the operating period. (If no entry is required for a transaction/eve sele Record entry to transfer finished goods to inventory. Note: Enter debits before credits. Record cost of goods sold. Note: Enter debits before credits. Note: Enter debits before creditsStep by Step Solution
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