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c$.$ is a manufacturer of digital cameras. It has two departments: assembly and testing. In January, the company incurred $$910,000$ on direct materials a

r a total manufacturing cost of $$1,867,200.$

he requirements.

ummarize the flow of physical units $($of output$).$

Compute output in terms of equivalent units.

Summarize total costs to account for.

Sompute cost per equivalent unit.

Assign total costs to units completed and to units in ending work in process.

irement $1.$ Assume there was no beginning inventory of any kind on January $1.$ During January, $6,000$ cameras were placed into production and all $6,000$

the month. What is the unit cost of an assembled camera in January?

s the simplest type of scenario in a process$-$costing system. All of the units placed into production were fully completed. This calculation is straightforward:

ed by the units produced. In this instance, we do not need to worry about equivalent units since all units placed into production were fully completed. $($Round

st cent.$)$

uirement $2$a$.$ Assume that, during February, $6,000$ cameras were placed into production. Further, assume the same total assembly costs for January are also

$2,000$ cameras are fully completed at the end of February. All direct materials have been added to the remaining $4,000$ cameras. However, on average, these

eras are only $50\%$ complete as to conversion costs. What are the equivalent units for direct materials and conversion costs and their respective costs per equiv

$*$There is a rent receivable account at the end of $204,$ because rent revenue was earned in $204$ but will not be collected ur

This amount is not part of taxable income in $204,$ but will be taxable income in $206$ when it is collected.

Required:

Prepare journal entries to record tax for $204,205,206,$ and $207.$ Assume that the tax loss carryforward usage in $205$ is

considered to be not probable but that in $206$ the balance of probability shifts and in $206$ the loss usage is considered to $b$

probable. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

Record entry for current and deferred income tax expense payable.

Note: Enter debits before credits.

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