The Kwanika Co

question 133

Essay

The Kwanika Co.operates in a lean manufacturing environment.During its first year of operations, Kwanika budgeted for 40,000 hours in the production of 100,000 units in its cell X-22.Material costs were $7 per unit.Cell X-22 conversion costs were budgeted for the year as follows:
During January, material for 8,400 units was purchased on account.There were 8,200 units manufactured and 8,000 were sold shipped to customers for $35 each.Journalize: a the material purchases; b the application of conversion costs; c the transfer from work in process to finished goods; and d the sales were made on account and associated cost of goods sold for the month of January.

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Definitions:

Central Processing Unit

The primary component of a computer that performs most of the processing inside a computer.

Random Access Memory

A type of computer memory that can be accessed randomly, allowing data to be stored and read in any order, significantly speeding up processes.

Relational Database

A type of database structured to recognize relations among stored items of information, using tables.

Long-Term Memory

A type of memory capable of storing large amounts of information for extended periods, ranging from days to decades.