Question
Sillicon Valley Corporation (SVC), which produces keyboards for personal computers. We assume the following information for SVC for the month of April. There are no
Sillicon Valley Corporation (SVC), which produces keyboards for personal computers. We assume the following information for SVC for the month of April.
- There are no beginning inventories of direct materials. Moreover, there is zero beginning and ending work in process.
- SVC has only one direct manufacturing cost strategy (direct materials) and one indirect manufacturing cost category (conversion costs). All manufacturing labor costs are included in conversion costs.
- From its bill of materials and an operations list, SVC determines that direct material cost per keyboard unit is P20 and estimated conversion cost is P10.
- SVC purchases P1,880,000 of direct materials. Actual conversion costs equal P1,280,000. SVC produces 90,000 good keyboard units and sells 87,000 units.
- Any under allocated or over allocated conversion costs are written off to Cost of goods sold at the end of the month.
Assuming: Trigger points Purchase, Sale, how much will be the ending balance of Finished Goods?
Assuming: Trigger points Purchase, Sale, how much will be the ending balance of the Raw and In process Account?
Assuming: Trigger points Completion and Sale, how much will be the ending balance of the Raw and In process Account
Assuming: Trigger points Purchase, completion, sale, how much will be the ending amount of the Raw and In process account?
Assuming: Trigger points Completion and Sale, how much will be the ending balance of the Finished Goods account?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started