Vision Enterprises Manufactures Converter Boxes for High Definition TVs Required:
Record All Journal Entries for the Monthly Activities Related

question 13

Essay

Vision Enterprises manufactures converter boxes for high definition TVs.All processing is initiated when an order is received.For March there were no beginning inventories.Conversion Costs and Direct Materials are the only manufacturing cost accounts.Direct Materials are purchased under a just-in-time system.Backflush costing is used with a finished goods trigger point.Additional information is as follows:
$$\begin{array} { | l | r | } \hline \text { Actual conversion costs } & \$ 435,000 \\\hline \text { Standard materials costs per unit } & 115 \\\hline \text { Standard conversion cost per unit } & 85 \\\hline \text { Units produced } & 7,900 \\\hline \text { Units sold } & 7,600 \\\hline\end{array}$$ Required:
Record all journal entries for the monthly activities related to the above transactions if backflush costing is used.

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Definitions:

Id

The part of the mind in psychoanalytic theory responsible for instinctual impulses and demands for immediate satisfaction.

Executive Personality

A term referring to personality traits associated with effective leadership and management, such as decisiveness, problem-solving abilities, and the capacity to motivate others.

Gratification

The satisfaction or pleasure felt when a desire, need, or expectation is fulfilled.

Ego

In psychoanalytic theory, the part of the personality that mediates between the demands of the id, the superego, and reality.