Complete Microfilm Products manufactures microfilm cameras. For October, there w

Question

Complete Microfilm Products manufactures microfilm cameras. For October, 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 units are sold.

Which of the following journal entries would be recorded when units are sold for the month?

Conversion costs - October $ 90,400 Direct materials purchased - October $250,400 Units produced - October 80,000 units Units sold - October 75,000 units Selling price $10 each

Explanation / Answer

B) Cost of Goods Sold

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