1. The amount of materials backflushed RIP to finished goods amounted to
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 10P: Aero Aluminum Inc. uses a process cost system. The records for May show the following information:...
Related questions
Question
![Bershka Manufacturing Company uses the Materials and in Process (MIP)
account. At the end of each month, all inventories are counted, their conversion
costs components are estimated and inventory account balances are adjusted
accordingly. Raw Materials are backflushed from MIP account to finished goods
account then ultimately to cost of sales. The following data are available for the
month of June.
DE COBR
28,800
4,080,000
MIP, Jan. 1
Conversion cost debited to various accounts
celse
P251,400
ont ja1
Debited to MIP account during the 6-months
period
Conversion costs applied
MIP account, Dec 31
31,800
232,200
1. The amount of materials backflushed RIP to finished goods amounted to
Enisirsi
bridd-oro at violnsvnt](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc1a1695c-926c-4bd8-94e6-8dbe9f080f1a%2Fbbc6209d-2204-4669-8d8a-425eef37f61e%2Fa740at_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Bershka Manufacturing Company uses the Materials and in Process (MIP)
account. At the end of each month, all inventories are counted, their conversion
costs components are estimated and inventory account balances are adjusted
accordingly. Raw Materials are backflushed from MIP account to finished goods
account then ultimately to cost of sales. The following data are available for the
month of June.
DE COBR
28,800
4,080,000
MIP, Jan. 1
Conversion cost debited to various accounts
celse
P251,400
ont ja1
Debited to MIP account during the 6-months
period
Conversion costs applied
MIP account, Dec 31
31,800
232,200
1. The amount of materials backflushed RIP to finished goods amounted to
Enisirsi
bridd-oro at violnsvnt
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Principles of Cost Accounting](https://www.bartleby.com/isbn_cover_images/9781305087408/9781305087408_smallCoverImage.gif)
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Principles of Cost Accounting](https://www.bartleby.com/isbn_cover_images/9781305087408/9781305087408_smallCoverImage.gif)
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,