Part 1 of 5 Points: Grandview produces small machined parts Grandview uses a job.costing system The nature of its process is such that management expects normal spoilage at a rate of 3% of good parts Data for last quarter are Click the icon to view the data for the last quarter) The spoiled parts were identified after 100% of the direct material cost was incurred The disposal value is $3 00/part Read the requirements Requirement 1. Record the journal entries if the spoilage was (a) job specific or (b) common to all jobs (Record debits first, then credits. Exclude explanations from any journal entries ) Begin by preparing the journal entry for normal spoilage if the spoilage was a) job specific Journal Entry Accounts Credit Debit 500 500 Cash Work in Process - X Data table Production (units) Good parts produced Direct material cost/unit 250,000 242,500 $ 8.00 Check answer Requirements 1. Record the journal entries if the spoilage was (a) job specific or (b) common to all jobs 2. Comment on the differences arising from the different treatment for these two scenarios Print Done