Road Warrior Corporation assembles handheld computers that have scaled-down capabilities of laptop computers. Each handheld computer takes 6 hours to assemble. Road Warrior uses a JIT production system and a ba costing system with three trigger points. There are no beginning inventories of materials or finished goods. The following data are for August 2018: (Click the icon to view the August data.) More Info - X Required 1. Prepare summary journal entries for August 2018 in the order they occur (without disposing of under-or overallocated conversion costs). 2. Post the entries in requirement 1 to T-accounts for applicable Inventory: Materials and In-Process Control, Finished Goods Control, Conversion Accounts and Various Accounts. Direct materials purchased $ 2,754,000 3. Under an ideal JIT production system, how would the amounts in your journal entries differ from those in requirement 1? Direct materials used $ 2,733,600 Requirement 2. Post the entries in requirement 1 to T-accounts for applicable Inventory: Materials and In-Process Control, Finished Goods Contro Conversion costs incurred $ 723,600 of Goods So Accounts Payable, and Various Accounts. (Leave unused cells blank.) Conversion costs allocated $ 750,400 Inventory: Materials and In-Process Control Finished Goods Control Road Warrior records direct materials purchased and conversion costs incurred at actual costs. When JE 1 2754000 JE 3 2733600 JE 3 3484000 JE 4 3432000 finished goods are sold, the backflush costing system "pulls through" the standard direct material cost ($102 per unit) and standard conversion cost Bal. 20400 Bal. 52000 (528 per unit). Road Warrior produced 26,800 finished units in August 2018 and sold 26,400 units. The actual direct material cost per unit in August Conversion Costs Control Conversion Costs Allocated 2018 was $102, and the actual conversion cost per unit was $27. Requirement 2. Post the entries in requirement 1 to T-accounts for applicable Inventory: Materials and In-Process Control, Finished Goods Control, Conversion Costs Control, Conversion Costs Allocated, Cost of Goods Sold Accounts Payable, and Various Accounts. (Leave unused cells blank.) Finished Goods Control Inventory: Materials and In-Process Control JE 1 2754000 JE 3 2733600 JE 3 3484000 JE 4 3432000 Bal. 20400 Bal. 52000 Conversion Costs Control Conversion Costs Allocated JE 3 JE 2 723600 750400 Bal. Bal. Cost of Goods Sold Accounts Payable Control Various Accounts 723600 JE 2 Bal. Road Warrior Corporation assembles handheld computers that have scaled-down capabilities of laptop computers. Each handheld computer takes 6 hours to assemble. Road Warrior uses a JIT production system and a ba costing system with three trigger points. There are no beginning inventories of materials or finished goods. The following data are for August 2018: (Click the icon to view the August data.) More Info - X Required 1. Prepare summary journal entries for August 2018 in the order they occur (without disposing of under-or overallocated conversion costs). 2. Post the entries in requirement 1 to T-accounts for applicable Inventory: Materials and In-Process Control, Finished Goods Control, Conversion Accounts and Various Accounts. Direct materials purchased $ 2,754,000 3. Under an ideal JIT production system, how would the amounts in your journal entries differ from those in requirement 1? Direct materials used $ 2,733,600 Requirement 2. Post the entries in requirement 1 to T-accounts for applicable Inventory: Materials and In-Process Control, Finished Goods Contro Conversion costs incurred $ 723,600 of Goods So Accounts Payable, and Various Accounts. (Leave unused cells blank.) Conversion costs allocated $ 750,400 Inventory: Materials and In-Process Control Finished Goods Control Road Warrior records direct materials purchased and conversion costs incurred at actual costs. When JE 1 2754000 JE 3 2733600 JE 3 3484000 JE 4 3432000 finished goods are sold, the backflush costing system "pulls through" the standard direct material cost ($102 per unit) and standard conversion cost Bal. 20400 Bal. 52000 (528 per unit). Road Warrior produced 26,800 finished units in August 2018 and sold 26,400 units. The actual direct material cost per unit in August Conversion Costs Control Conversion Costs Allocated 2018 was $102, and the actual conversion cost per unit was $27. Requirement 2. Post the entries in requirement 1 to T-accounts for applicable Inventory: Materials and In-Process Control, Finished Goods Control, Conversion Costs Control, Conversion Costs Allocated, Cost of Goods Sold Accounts Payable, and Various Accounts. (Leave unused cells blank.) Finished Goods Control Inventory: Materials and In-Process Control JE 1 2754000 JE 3 2733600 JE 3 3484000 JE 4 3432000 Bal. 20400 Bal. 52000 Conversion Costs Control Conversion Costs Allocated JE 3 JE 2 723600 750400 Bal. Bal. Cost of Goods Sold Accounts Payable Control Various Accounts 723600 JE 2 Bal
