Answer the Following Questions Using the Information Below

question 60

Multiple Choice

Answer the following questions using the information below:
Acme Inc.manufactures air compressors.For July there were no beginning inventories of direct materials,and no beginning or ending work-in-process.Only one indirect manufacturing cost category is currently in use,"Conversion Costs." Journal entries are recorded when materials are purchased and when units are transferred to finished goods inventory.Acme Inc.uses backflush costing.Variances are written off against Cost of Goods Sold when units are transferred to finished goods inventory.The following data pertains to July:

-Which of the following journal entries properly reflects Acme's conversion costs allocated including the disposition of the variance?

---

Definitions:

Point System

A form of job evaluation that assesses the relative importance of the job’s key factors in order to arrive at the relative worth of jobs.

Compensation Information

Data and details regarding the pay rates, bonuses, benefits, and other forms of remuneration provided to employees for their services.

Consulting Companies

Businesses that provide expert advice and solutions to other organizations or individuals in specific domains, such as management, technology, or finance.

Perceived Inadequate

Feeling or being judged as insufficient or not meeting the required standards.