Answer the Following Question(s)using the Information Below

question 155

Multiple Choice

Answer the following question(s) using the information below.Walton Industries uses backflush costing.For March, there were no beginning inventories of direct materials and no beginning or ending work-in-process.Conversion costs is the only indirect manufacturing cost category currently used.Journal entries are recorded when actual costs are incurred, at completion of finished goods, and at sale of finished goods, under backflush costing.
-Which of the journal entries properly records the finished goods trigger point at Walton Industries?

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Definitions:

Health Insurance

A form of insurance coverage that pays for medical and surgical expenses incurred by the insured or provides reimbursement for such expenses.

Sabbatical

A period of leave granted to an employee, often a professor or researcher, to study or travel, usually for one semester or a year, while retaining their position.

Paid Time Off

An employee benefit where workers are granted a certain number of days or hours off from work, which are paid by the employer, including vacation days, holidays, personal time, and sick leave.

Compressed Work-week

A work schedule that allows an employee to work a full-time job in fewer than the traditional five days of a standard work-week.