Emerging Dock Company manufactures boat docks on an assembly line. Its standard costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Finishing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production.
Which of the following journal entries records the total conversion costs variances of the Assembly Department, assuming that conversion costs are 15% higher than expected?
Definitions:
Parliamentary Supremacy
The principle that Parliament has the highest legal authority within its jurisdiction and that its enactments cannot be overruled by any other body.
Canada
Canada is a country located in the northern part of North America, known for its vast landscapes, multicultural population, and as a member of the Commonwealth.
Common-law System
A legal system characterized by judicial precedent and the principle that similar cases should be decided in a similar way.
Substantive Law
Law that deals with the rights and duties of people and the substance of legal claims, as opposed to procedural law.
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