Johnson Production Company Uses Just-In-Time Production and Accounting Methods

question 137

Essay

Johnson Production Company uses just-in-time production and accounting methods. On June 1, Johnson completed 400 units of product and moved the products to finished goods. Each unit included $8.00 of direct materials cost and $2.00 of conversion costs. Please provide the journal entry.
$$\begin{array} { | l | l | l | } \hline \quad\quad\quad\quad\quad\quad\quad\quad&\quad\quad &\quad\quad \\\hline & & \\\hline & & \\\hline\end{array}$$

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Definitions:

Task Identity

The degree to which a job involves completing a whole and identifiable piece of work from start to finish with a visible outcome.

Job Satisfaction

The level of contentment employees feel about their work, which can influence their motivation, performance, and retention.

Contingent Time Off

Time off from work that is not planned in advance and depends on certain conditions being met.

Quota

A limited or fixed number or amount of something, especially one officially allocated.