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FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 2 Sumbul Ağa Manufacturing: Information: Amount Sold Unit A 8,000 Regular Selling price 39.95 Total Costs Materials $ 36,000 Labor $ 48,000 Factory Overhead 2$ 24,000 Units identified as inferior or second quality: 100 products Units expected selling price: $9.95 each one Actions to take: 1. Prepare the Journal Entries to charge production costs. 2. Prepare the Journal Entries to charge all departments. 3. Prepare the Journal Entries to charge specific job because is a special order. 4. Calculate the unit cost.
Transcribed Image Text:Exercise 2 Sumbul Ağa Manufacturing: Information: Amount Sold Unit A 8,000 Regular Selling price 39.95 Total Costs Materials $ 36,000 Labor $ 48,000 Factory Overhead 2$ 24,000 Units identified as inferior or second quality: 100 products Units expected selling price: $9.95 each one Actions to take: 1. Prepare the Journal Entries to charge production costs. 2. Prepare the Journal Entries to charge all departments. 3. Prepare the Journal Entries to charge specific job because is a special order. 4. Calculate the unit cost.
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