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????? ??? ??? ?????? CoursHeroTranscribedText: EXERCISE 2: Jellyfish Machine Shop is a manufacturer of...

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Accounting

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CoursHeroTranscribedText: EXERCISE 2: Jellyfish Machine Shop is a manufacturer of motorized carts for vacation resorts. Patrick Cullin, the plant manager of Jellyfish, obtains the following information for Job #10 in August 2017. A total of 46 units were started, and 6 spoiled units were detected and rejected at final inspection, yielding 40 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,100 per unit. The current disposal price of the spoiled units is $235 per unit. When the spoilage is detected, the spoiled goods are inventoried at $235 per unit. Required: 1. What is the normal spoilage rate? 2. Prepare the journal entries to record the normal spoilage, assuming the following: a. The spoilage is related to a specific job

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