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Please help with what is wrong. There isn't any reference matieral given in class. I've researched all I can and spent two days on this
Please help with what is wrong. There isn't any reference matieral given in class. I've researched all I can and spent two days on this so far. I don't know what I keep getting wrong, but I defeinitely need help. Thank you!!!
Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on the basis of standard costs. The following data are for March. Assume that the company carries no beginning or ending inventories. Sales in March totaled $3,220,000 for both products combined. Required: Prepare the journal entries to record the activity for the last month using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the month. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the activity of Mountain Mist for the last month using standard costing. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) \begin{tabular}{|l|l|l|r|r} \hline H & 8 & Fixed overhead (applied) \\ \hline & & Fixed overhead production volume variance (Mountain Mist) & \\ \hline & & Fixed overhead price variance (Mountain Mist) & \\ \hline & & Fixed overhead (actual) & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the activity of Valley Stream Costs for the last month using standard costing. (If no entr' is required for a transaction/event, select "No journal entry required" in the first account field.) \begin{tabular}{|l|l|l|l|l|} \hline K & \multicolumn{1}{|c|}{} & & \\ \hline & & Cost of goods sold (Mountain Mist) \\ \hline & & Cost of goods sold (Valley Stream) & \\ \hline & & Finished goods inventory (Mountain Mist) & \\ \hline & & Finished goods inventory (Valley Stream) & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Prepare the journal entries to close all variances to Cost of Goods Sold at the end of the month. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on the basis of standard costs. The following data are for March. Assume that the company carries no beginning or ending inventories. Sales in March totaled $3,220,000 for both products combined. Required: Prepare the journal entries to record the activity for the last month using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the month. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the activity of Mountain Mist for the last month using standard costing. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) \begin{tabular}{|l|l|l|r|r} \hline H & 8 & Fixed overhead (applied) \\ \hline & & Fixed overhead production volume variance (Mountain Mist) & \\ \hline & & Fixed overhead price variance (Mountain Mist) & \\ \hline & & Fixed overhead (actual) & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Prepare the journal entries to record the activity of Valley Stream Costs for the last month using standard costing. (If no entr' is required for a transaction/event, select "No journal entry required" in the first account field.) \begin{tabular}{|l|l|l|l|l|} \hline K & \multicolumn{1}{|c|}{} & & \\ \hline & & Cost of goods sold (Mountain Mist) \\ \hline & & Cost of goods sold (Valley Stream) & \\ \hline & & Finished goods inventory (Mountain Mist) & \\ \hline & & Finished goods inventory (Valley Stream) & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Prepare the journal entries to close all variances to Cost of Goods Sold at the end of the month. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)Step by Step Solution
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