Robo-Pool manufactures robotic pool vacuums. Each unit requires $225 of raw materials and $375 of conversion costs and is sold for $700. During a recent month the company produced 120 units and sold 100 units. Prepare journal entries to record each of the following. 1. Purchase of raw materials on credit. 3. Sold 100 units on credit. 2. Applied conversion costs to production. 4. Record ending inventory and cost of goods sold.

Robo-Pool manufactures robotic pool vacuums. Each unit requires $225 of raw materials and $375 of conversion costs and is sold for $700. During a recent month the company produced 120 units and sold 100 units. Prepare journal entries to record each of the following. 1. Purchase of raw materials on credit. 3. Sold 100 units on credit. 2. Applied conversion costs to production. 4. Record ending inventory and cost of goods sold.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3PA: Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired...

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