From the list below, select the items that are classified as a materials activity
From the list below, select the items that are classified as a materials activity(You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
? Raw materials used
? Raw materials beginning inventory
? Raw materials purchases
? Work in process beginning inventory
? Goods manufactured
7 Direct labor used
? Factor overhead used
Homework Answers
Materials activity -->shows the flow of raw materials
Answer: Raw materials beginning inventory
Answer: Raw materials purchases
.
.
Production activity:
Work-in process beginning inventory
Raw material used
Direct labor used
Factory overhead used
Sales activity:
Goods manufactured
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From the list below, select the items that are classified as a materials activity
Select the items below which must be adjusted to the book balance: You may select more than one answer
Knowledge Check 01 Select the items below which must be adjusted to the book balance: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect) deposits in transit book error break erroroutstanding checks interest earned on checking accountcollections of accounts receivable...
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one...
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Money market funds Supplies Three-month Treasury bills Accounts receivable Prepaid rent
Required information 6 Part 2 of 2 Knowledge Check 01 The journal entry to acquire materials...
Required information 6 Part 2 of 2 Knowledge Check 01 The journal entry to acquire materials on credit for factory use includes which two of the following? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as...
The Cash table below contains seven attributes. Which of those could possibly be foreign keys? (You may select more than one answer.
Required: The Cash table below contains seven attributes. Which of those could possibly be foreign keys? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with E the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Cash Receipt:
A service company has the following costs
A service company has the following costs(You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)? direct materials? overhead costs? product costs? expensed in the period incurred
What is always true about trial balance reports? (You may select more than one answer. Single...
What is always true about trial balance reports? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) The report is prepared for a range of dates.unanswered Only accounts with activity during the period are included...
(d) When sales increase by 7%, which of the following should also increase by 7% in...
(d) When sales increase by 7%, which of the following should also increase by 7% in a merchandising company? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Variable cost Fixed cost Gross margin Contribution...
Knowledge Check 01 Which of the following are common principles of internal control? (You may select...
Knowledge Check 01 Which of the following are common principles of internal control? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) O Control environment Establish responsibility Reporting procedures Restrict access Segregate duties
Factory overhead includes: (You may select more than one answer. Single click the box with the...
Factory overhead includes: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) direct materialsunanswered direct laborunanswered indirect laborunanswered depreciation on factory equipmentunanswered depreciation on general and administrative computersunanswered factory utilitiesunanswered general and administrative utilities
What are the two reasons that inventory must be estimated?
Knowledge Check 01 What are the two reasons that inventory must be estimated? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) A company uses the perpetual inventory system. A company experiences a casualty. Yearly financial statements are prepared Interim...
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Money market funds Supplies Three-month Treasury bills Accounts receivable Prepaid rent
Required information 6 Part 2 of 2 Knowledge Check 01 The journal entry to acquire materials on credit for factory use includes which two of the following? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as...
(d) When sales increase by 7%, which of the following should also increase by 7% in a merchandising company? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Variable cost Fixed cost Gross margin Contribution...
Knowledge Check 01 Which of the following are common principles of internal control? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) O Control environment Establish responsibility Reporting procedures Restrict access Segregate duties
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