Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help Stefan Ceramics is in the business of selling ceramic vases. It has two departments - molding and finishing . Molding department purchases tungsten

please help
image text in transcribed
Stefan Ceramics is in the business of selling ceramic vases. It has two departments - molding and finishing . Molding department purchases tungsten carbide and produces ceramic vases out of it. Ceramic Vases are then transferred to finishing department, which designs it as per the requirement of the customers During the month of July, molding department purchased 1720kgs of tungsten carbide at \$280 per kg. It started manufacture of 4,200 vases and completed and transferred 3,700 vases during the month. It has 500 vases in the process at the end of the month. It incurred direct labor charges of $1,800 and other manufacturing costs of $1,200. which included electricity costs of $1,100. Stefan had no inventory of tungsten carbide at the end of the month. It also had no beginning inventory of vases. The ending inventory was 45% complete in respect of conversion costs Which of the following journal entry would record the tungsten carbide purchased and used in production during July

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Principles

Authors: Nformi Eugene Tawe

1st Edition

3330651032, 978-3330651036

More Books

Students also viewed these Accounting questions