Production of order consisting 800 units requires direct

Reference no: EM13389366

Production of an order consisting 800 units requires direct materials of $350,000 and direct labor or $250,000. Factory overhead is applied at the rate of 80% of direct labor cast. After completion of the order, 16 units are classified as spoiled which can be sold for $4,000. Customer takes delivery of remaining 784 good units and paid in cash the contracted prices at the rate of $1,250 per unit. Spoiled units are sold and $4,000 received in cash.

Required:

(1) Journal entries, if the loss is charged to the order.

(2) Journal entries, if the loss is changed to factory overhead.

Reference no: EM13389366

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