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Prepare journal entries to record the accounting for cost

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Question - Compu Chip (CC) Corporation is a manufacturer of computer chips based in Windsor. It manufactures two types of computer chips, CS1 and CS2. The costs of manufacturing each CS1 chip, excluding rework costs, are direct materials, $67; direct manufacturing labour, $18, and manufacturing overhead, $44. Defective units are sent to a separate rework area. Rework costs per CS1 chip are direct materials, $15, direct manufacturing labour, $12, and manufacturing overhead, $15. i (Click the icon to view additional information.)

Required -

1. Prepare journal entries to record the accounting for the cost of the spoiled chips and for rework.

2. What were the total rework costs of CS1 chips in August 2018?

Reference no: EM133147011

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