Kilbuck manufacturing operates in a lean manufacturing environment. kilbuck's actual conversion costs for the month of may follow: direct and indirect labor $150,000 machine depreciation 85,000 maintenance and supplies 60,000 total conversion costs $295,000 the journal entry to record may's conversion costs will include:

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Business

Rene Montoya

18 August, 10:39

Kilbuck manufacturing operates in a lean manufacturing environment. kilbuck's actual conversion costs for the month of may follow: direct and indirect labor $150,000 machine depreciation 85,000 maintenance and supplies 60,000 total conversion costs $295,000 the journal entry to record may's conversion costs will include:

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Ireland Coffey · Answer 1

Kilbuck Manufacturing operates in a lean manufacturing environment. Kilbuck’s actual conversion costs for the month of May follow:

Direct and indirect labor $150,000

Machine depreciation $85,000

Maintenance and supplies $60,000

Total conversion costs $295,000

The journal entry to record April's conversion costs will include:

D. A debit to Raw and In Process Inventory

Raw materials of all kinds are measured at the start recorded into a list plus account with a debit to the raw materials inventory account and a credit to the accounts collectible account. When raw materials are consumed, the accounting treatment varies, betting on their standing as direct or indirect materials.