Solution-Record the entries to first charge production costs

Record the entries to first charge production costs

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Reference no: EM133109884

Question - The Reardon Company manufactures novelty toys. In June, 600 of these toys were completed on Job Order No. 2525. On final inspection, 25 toys were rejected and transferred to the spoiled goods inventory to be sold at $3 each.

Costs recorded on Job Order No. 2525 follow:

Direct materials	$1,800
Direct labor	1,600
Factory overhead	900
	4,300

Required - Record the entries to first charge production costs for the period and to then record the loss due to spoiled work, under each of the following conditions:

a. The loss due to spoiled work is spread over all jobs in the department.

b. The loss due to spoiled work is charged to the specific job because it is a special order.

Reference no: EM133109884

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Record the entries to first charge production costs

Reference no: EM133109884

Reference no: EM133109884

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