Fifth edition Alnoor Bhimani Charles T. Horngren Srikant M. Datar Madhav V. Rajan Farah Ahamed


Backflush journal entries and JIT production



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21.18 Backflush journal entries and JIT production.
(15–20 min)
1
Journal entries for April areas follows Entry (a) Stock Raw and In-progress control
8,800,000 Accounts payable control
8,800,000 direct (raw) materials purchased) Entry (b) Conversion costs control
4,220,000 Various accounts (such as Accounts and Wages payable control)

4,220,000 conversion costs incurred) Entry (c) Finished goods control
12,500,000 Inventory Raw and In-progress control
8,500,000 Conversion costs allocated

4,000,000 standard costs of finished goods produced) Entry (d) Cost of goods sold
11,900,000 Finished goods control
11,900,000 standard costs of finished goods sold)


Bhimani, Horngren, Datar and Rajan, Management and Cost Accounting, 5
th
Edition, Instructor’s Manual
© Pearson Education Limited 2012

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