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question 125

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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 2016 are:
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 2016 are:    -Which of the following journal entries properly records the assignment of conversion costs to work-in-process inventory,and the conversion-cost variances of the Assembly Department assuming that conversion costs are 20% higher than expected? A)    B)    C)    D)    E)
-Which of the following journal entries properly records the assignment of conversion costs to work-in-process inventory,and the conversion-cost variances of the Assembly Department assuming that conversion costs are 20% higher than expected?

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Definitions:

Supply Curve

Relationship between the quantity of a good that producers are willing to sell and the price of the good.

Trucking Services

Businesses that provide transportation of goods via motor vehicles such as trucks over short or long distances.

Pollutants

Substances that cause pollution, contaminating the air, water, and soil, and potentially causing harm to ecosystems and human health.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded in a market.

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