ADM 3346 Chapter Notes - Chapter 18: Finished Good, Vajrayana

• School: University of Ottawa
• Department: Administration
• Course: ADM 3346
• Professor: Robert Collier

Document Summary

Journal entries: to transfer good units completed. Xxx: to recognize abnormal spoilage detected, loss from abnormal spoilage xxx, to record actual direct materials used and total direct (standard cost) Xxx: to record actual conversion costs and total conversion cost variance. If the inspection had occurred at 100% completion stage, then use the % of normal spoilage times the good units completed. Wip (specific job: normal spoilage attributed to a specific job, materials control (spoiled goods at current disposal value) Wip (specific job: abnormal spoilage, materials control (spoiled goods at current disposal value) Xxx: reworked units are unacceptable units of production that are subsequently reworked into good units and sold, normal rework common to all job, manufacturing department overhead control. Manufacturing overhead allocated: normal rework attributable to a specific job, wip. Manufacturing overhead allocated: abnormal rework, loss from abnormal rework. Xxx: scrap attributable to a specific job. Wip (specific job: scrap common to all job, cash.