Required information [The following information applies to the questions displayed below.] Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor: Direct Material: Quantity, 0.10 hour Rate, $5.00 per hour Quantity, 3 kilograms Price, $0.30 per kilogram Actual material purchases amounted to 34,000 kilograms at $0.325 per kilogram. Actual costs incurred in the production of 10,000 units were as follows: Direct labor: $6,120 for 1,200 hours $10,075 for 31,000 kilograms Direct material: Required: Post the journal entries prepared above to the appropriate T-accounts below. Be sure to select from the dropdown menu the transaction number associated with each amount posted.
Required information [The following information applies to the questions displayed below.] Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor: Direct Material: Quantity, 0.10 hour Rate, $5.00 per hour Quantity, 3 kilograms Price, $0.30 per kilogram Actual material purchases amounted to 34,000 kilograms at $0.325 per kilogram. Actual costs incurred in the production of 10,000 units were as follows: Direct labor: $6,120 for 1,200 hours $10,075 for 31,000 kilograms Direct material: Required: Post the journal entries prepared above to the appropriate T-accounts below. Be sure to select from the dropdown menu the transaction number associated with each amount posted.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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why is 10,200 wrong for raw material inventory
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