Alfeo Corporations has adopted a JIT management system and has the following transactions in February:
Feb 2 Incurred labor and overhead costs, $89,000
Feb 18 Completed 750 units with standard costs of $\$ 93$ for direct materials and $\$ 146$ for conversion costs Open a T-account for Conversion Costs.Post appropriate entries to determine the amount of underallocated or overallocated overhead.Record the adjusting entry.

Question

Alfeo Corporations has adopted a JIT management system and has the following transactions in February:
 Feb 2 Incurred labor and overhead costs, $89,000
Feb 18 Completed 750 units with standard costs of $\$ 93$ for direct materials and $\$ 146$ for conversion costs Open a T-account for Conversion Costs.Post appropriate entries to determine the amount of underallocated or overallocated overhead.Record the adjusting entry.

Quizplus · Accepted Answer

The Answer of Alfeo Corporations has adopted a JIT management system and has the following transactions in February:
 Feb 2 Incurred labor and overhead costs, $89,000
Feb 18 Completed 750 units with standard costs of $\$ 93$ for direct materials and $\$ 146$ for conversion costs Open a T-account for Conversion Costs.Post appropriate entries to determine the amount of underallocated or overallocated overhead.Record the adjusting entry.

Alfeo Corporations Has Adopted a JIT Management System and Has $93\$ 93$93

Alfeo Corporations Has Adopted a JIT Management System and Has $\$ 93$