Low Range produce fleece Jackets. The companys JIT costing for its JIT production system Low Range has wo inventory accounts Raw and ins Process Inventory and Finished Goods Inventory On March 1. 2018, the accounts were Raw and in Proventory 19,000. Finished Goods Inventory, 51.700. The standard cost of a jacket 500, composed of 12 direct materiale plus $28 conversion costs Data for March's activities folow Click the icon to view the data Read the recurrents Requirement 1. What are the major features of a IT production system such as that of Low Rango? Production is arged self-contained work the Sim Broodry Products produced in sub Clons coordination with operatore online y of de mai Data Table -X Suction sy S 15,000 Number of jackets completed Number of jackets sold (on account, for $50 each) Direct materials purchased on account) Conversion costs incurred 14,600 $ 177,500 $ 521,000 very of defe t fields and Print Done Clear All Requirement 2. Prepare summary ouma entries for March Underalocated or overalocated conversion cons are closed to Cost of Good told my Pecord count, the cudits Exclude explanations from journalis Journalize the purchase of raw mater Du Accounts Debit Credit 2018 Hondary 177.500 Accounts Payable 177.500 Journalize the actual conversion costs incurred. Date Accounts Mar. 2018 Conversion Costs Wages Payable, Accumulated Depreciation, etc. Debit Credit 521.000 521,000 Low producesce jaket. The company Infos JIT production fem. Lowas two inventory accounts Raw and Proce inventory and Finished Goods enton Gin March 2018, the cool were Raw and Process Inventory 09,000. Good Inventory S700. The standard cost of a composed 12 direct materials plus concos Datator Ward's activides flow Chok the con la view the la Head the rourements Dett Crede me e come action Date Accounts Mar 2015 Fest Cocos Intory Raw and story Convert Corts 000.000 180.00 120.000 Low Rasproduces the The companyes JIT costing for production system Low Range has to inventory accounts Raw and is Process inventory and Frihed Goodsory March 2016, the count balances were Raw and in Process hventory 50,000 Fred Goods Inventory 51.700. The did cost of a jacket is $40.composed of 512 direct materiais plus $28conversion costs. Data for yes activities follow to conto the data Read the outer are the son account. (Do not record the coated to the MahWe wil do this in the low Date Accounts Debit Chit Mar 2018 Acous cela Sales Revenge 730.000 Low Range process. The company was JIT og IT production system Low Rangers overtory account wind in Process Invertory and Finished Goods Inventory On Auch 2018, the account balances were in Procesory 50.000: Fred Goods inventory$1700 The add cout of a jacket is 50 comod of 2 Groces po 20 conversion costs Dute for Macy's actes flow non view the data) Read the mud Journace the cost of sales for March Dute Accounts Debit Crv 2010 Cool Good Solo 4.000 Fred Good SBB Eron Hot Low Range produconoce jackets. The company uses JIT costing for its production system Low Range has two inwento con Rwand in Process Inventory and Psd Goods inventory on March 2018, the account balances were Raw and In-Proces Investory, 50000, Fished Goods incontory, 51,700. The standard cost of a jacket is $49. composed of 12 drod materiais plus $tion contatto March's activities follow Cho the con to view the data) Read the garments Joumanize the entry to adjust the Common Couscount Date Accounts Mar 2018 Debit Credit
