Tornado Electronics Manufactures Stereos Required:
Record All Journal Entries for the Monthly Activities Related

question 119

Essay

Tornado Electronics manufactures stereos.All processing is initiated when an order is received.For April 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:
$$\begin{array} { | l | r | } \hline \text { Actual conversion costs } & \$ 232,000 \\\hline \text { Standard materials costs per unit } & 60 \\\hline \text { Standard conversion cost per unit } & 140 \\\hline \text { Units produced } & 3,200 \\\hline \text { Units sold } & 2,800 \\\hline\end{array}$$ Required:
Record all journal entries for the monthly activities related to the above transactions if backflush costing is used.

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Definitions:

Cultural Innovation

The introduction of new ideas, products, or ways of doing things that significantly alter cultural practices and norms.

Local Market Adaptations

Adjustments made to products, services, or marketing strategies to suit the specific preferences and requirements of local markets or regions.

Cultural Innovation

involves the creation or adoption of ideas, practices, or products that significantly alter the cultural practices or norms within a society.

Local Adaptations

are modifications made to products, strategies, or communications to suit the specific tastes, cultural norms, or consumer behaviors of a particular geographic region.