Use the information below to answer the following question(s) .Reynolds Dock Company manufactures boat docks on an assembly line.Its standard costing system utilizes 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.Data for the Assembly Department for October 2019 are:
-Which of the following journal entries records the actual Assembly Department's conversion costs for the month assuming conversion costs are 20 percent higher than expected?
Definitions:
Billable Hours
The amount of time spent on specific tasks or projects that can be charged to clients.
Customer Services
Activities and benefits provided by a business to its customers in the course of delivering goods or services.
Adelaide Bank
Adelaide Bank, a part of Bendigo and Adelaide Bank Limited, is a financial institution in Australia offering a range of banking services including loans, savings accounts, and investment products.
Costing System
A method used by businesses to calculate the cost of their products or services.
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