Answer the Following Questions Using the Information Below:
Games R

question 83

Multiple Choice

Answer the following questions using the information below:
Games R Us manufactures various games. For March, there were no beginning inventories of direct materials and no beginning or ending work in process. Conversion costs is the only indirect manufacturing cost category currently used. Journal entries are recorded when materials are purchased and when conversion costs are allocated under backflush costing.
$\begin{array}{lr}\text { Conversion costs - March } & \$ 400,000 \\\text { Direct materials purchased - March } & \$ 1,070,000 \\\text { Units produced - March } & 58,800 \\\text { Units sold - March } & 41,800\end{array}$
-Which of the journal entries properly records conversion costs?

• A) \(\begin{array} { l }
• \text {Conversion Costs }&400,000\\
• \text {Various Accounts }&400,000 \\
• \end{array}\)
• B) \(\begin{array} { l }
• \text { Various Accounts}&400,000 \\
• \text { Conversion Costs }&400,000 \\
• \end{array}\)
• C) \(\begin{array} { l }
• \text {Conversion Costs }&400,000\\
• \text {Inventory: Direct Materials }&400,000 \\
• \end{array}\)
• D) \(\begin{array} { l }
• \text {Inventory: Direct Materials }&400,000\\
• \text {Conversion Costs }&400,000 \\
• \end{array}\)

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Definitions:

Sampling Distribution

The statistical probability layout produced by examining a random sample.

Sample Proportion

The fraction or percentage of the sample that exhibits a particular trait or characteristic, used to estimate the proportion in the entire population.

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Work experience placements for individuals who have recently completed a degree, offering practical experience in their field of study.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used for hypothesis testing.