Hot Flash Corporation Manufactures Sparkplugs Sparkplugs Are Scheduled for Production Only After Orders Are Received

question 126

Essay

Hot Flash Corporation manufactures sparkplugs. A backflush costing system is used and standard costs for a sparkplug are as follows: $$\begin{array} { l l } \text { Direct materials } & \$ 1.30 \\\text { Conversion costs } & \underline { 2.10 } \\\text { Total } & \$ 3.40\end{array}$$ Sparkplugs are scheduled for production only after orders are received and are shipped immediately upon completion. This results in product costs being charged directly to cost of goods sold. In December, 6,000 sparkplugs were produced and shipped. Materials were purchased at a cost of $7,800 and actual conversion costs of $12,600 were recorded.
Required:
Prepare journal entries to record December's costs for the production of the sparkplugs.

Discuss the contrasting views of religion by Marx, conflict theorists, and symbolic interactionists, particularly in the context of new religious movements.

Explore Confucian virtues and their role in fostering collectivism within societies.

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Definitions:

Scientific Management

Scientific management is a system of improving productivity developed in the 1910s by Frederick W. Taylor. After analyzing the movements of workers as they did their jobs, Taylor trained them to eliminate unnecessary actions and greatly improve their efficiency.

Unnecessary Actions

Actions or efforts that do not contribute to achieving a goal or are not required for a successful outcome.

Working Conditions

The environment, terms, and circumstances under which individuals perform their jobs, including aspects like safety, hours, and rights.

Fringe Benefits

Additional benefits supplementing an employee's salary, such as health insurance, paid vacation, allowances, and retirement plans.