q 39

Cracked Screen manufactures various computer monitors. For April there were no beginning inventories of direct materials, and no beginning or ending work-in-process Cracked Screen uses JIT production system and backflush costing. The April standard costs per unit are direct materials $18, conversion costs $12 Journal entres are recorded when materials are purchased and at the completion of finished goods. Actual Conversion costs - April $740,000 Direct materials purchased - April $1,070,000 58,800 Units produced - April Units sold - April 41,800 Which of the following journal entries properly records when units are completed in production? OA. Finished Goods Inventory Inventory Raw and in Process Control 1,070,000 1,070,000 OB. 705,600 Finished Goods Inventory Conversion Costs Allocated 705,600 OC. 1,810,000 Finished Goods Inventory Inventory Raw and in Process Control Conversion Costs Allocated 1,070,000 740,000 OD 1,764,000 Finished Goods Inventory Inventory Raw and in Process Control Conversion Costs Allocated 1,058,400 705,600 O E 1070,000 Inventory: Raw and in Process Control Accounts Payable Control 1,070,000 Cracked Screen manufactures various computer monitors. For April there were no beginning inventories of direct materials, and no beginning or ending work-in-process Cracked Screen uses JIT production system and backflush costing. The April standard costs per unit are direct materials $18, conversion costs $12 Journal entres are recorded when materials are purchased and at the completion of finished goods. Actual Conversion costs - April $740,000 Direct materials purchased - April $1,070,000 58,800 Units produced - April Units sold - April 41,800 Which of the following journal entries properly records when units are completed in production? OA. Finished Goods Inventory Inventory Raw and in Process Control 1,070,000 1,070,000 OB. 705,600 Finished Goods Inventory Conversion Costs Allocated 705,600 OC. 1,810,000 Finished Goods Inventory Inventory Raw and in Process Control Conversion Costs Allocated 1,070,000 740,000 OD 1,764,000 Finished Goods Inventory Inventory Raw and in Process Control Conversion Costs Allocated 1,058,400 705,600 O E 1070,000 Inventory: Raw and in Process Control Accounts Payable Control 1,070,000