Homework Answers
A credit to raw materials inventory represents the raw materials added to production which reduces the available raw materials inventory.
The answer is B.
Add Answer to:
8) A credit to the Raw Materials Inventory account represents: 8) A) raw materials available for use. B) raw materi...
During June, Briganti Corporation purchased $85,000 of raw materials on credit to add to its raw...
During June, Briganti Corporation purchased $85,000 of raw materials on credit to add to its raw materials inventory. A total of $70,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $10,000 of indirect materials, Required: Prepare journal entries to record the purchase of materials and their use in production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal...
When raw materials are purchased on account for use in a process costing system, the corresponding...
When raw materials are purchased on account for use in a process costing system, the corresponding journal entry that should be recorded will include: A debit to Work in Process Inventory. A debit to Accounts Payable. A credit to Cash. A debit to Raw Materials Inventory. A credit to Raw Materials Inventory.
Entry (4) in the T-account below represents raw materials requisitioned for use in production. Bal. 87.000...
Entry (4) in the T-account below represents raw materials requisitioned for use in production. Bal. 87.000 Raw Materials 15,000 (4) 94,000 22,000 (3) Bal. True False
a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used...
a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used in production of this amount, $62,000 was for direct materials and the remainder was for Indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $175,000 was incurred on factory equipment. eBook Required: Record the above transactions in journal entries. (If no entry is...
During June, Briganti Corporation purchased $88,000 of raw materials on credit to add to its raw...
During June, Briganti Corporation purchased $88,000 of raw
materials on credit to add to its raw materials inventory. A total
of $73,000 of raw materials was requisitioned from the storeroom
for use in production. These requisitioned raw materials included
$13,000 of indirect materials.
Required:
Prepare journal entries to record the purchase of materials and
their use in production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
Journal entry worksheet 2...
The following information is available for the year ended December Beginning raw materials inventory Raw materials...
The following information is available for the year ended December Beginning raw materials inventory Raw materials purchases Ending raw materials inventory office supplies expense $2,800 4,300 3,300 1,300 The amount of raw materials used in production for the year is:
a. Purchased raw materials on credit. $240,000 b. Materials requisitions record use of the following materials...
a. Purchased raw materials on credit. $240,000 b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 Total direct Baterials Indirect materials Total materials used $ 49,500 33,500 19,400 22,800 7,200 132,400 20,000 $152,400 c. Paid $15.750 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137...
Raw Materials Beginning Balance plus what equals Raw Materials Available for Use? Group of answer choices...
Raw Materials Beginning Balance plus what equals Raw Materials Available for Use? Group of answer choices Purchases Raw Materials Ending Inventory Cost of Goods Manufactured Raw Materials Used in Production
The closing balance of the Raw materials inventory account for may was 27,500. the opening balance...
The closing balance of the Raw materials inventory account for may was 27,500. the opening balance for may was 28,750 and 128,900 of raw materials were used during the month. The materials purchased during the month cost: a. 131,300 b. 127,650 c. 130,150 d. 157,650
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $52,800. Raw Materi...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $52,800. Raw Materials of $45,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials. 3. Factory labor costs incurred were $68,000, of which $51,500 pertained to factory wages payable and $16,500 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,100 was direct labor and $12,900 was indirect labor. 5. Manufacturing overhead costs incurred on...
During June, Briganti Corporation purchased $85,000 of raw materials on credit to add to its raw materials inventory. A total of $70,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $10,000 of indirect materials, Required: Prepare journal entries to record the purchase of materials and their use in production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal...
Entry (4) in the T-account below represents raw materials requisitioned for use in production. Bal. 87.000 Raw Materials 15,000 (4) 94,000 22,000 (3) Bal. True False
a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used in production of this amount, $62,000 was for direct materials and the remainder was for Indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $175,000 was incurred on factory equipment. eBook Required: Record the above transactions in journal entries. (If no entry is...
During June, Briganti Corporation purchased $88,000 of raw
materials on credit to add to its raw materials inventory. A total
of $73,000 of raw materials was requisitioned from the storeroom
for use in production. These requisitioned raw materials included
$13,000 of indirect materials.
Required:
Prepare journal entries to record the purchase of materials and
their use in production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
Journal entry worksheet 2...
The following information is available for the year ended December Beginning raw materials inventory Raw materials purchases Ending raw materials inventory office supplies expense $2,800 4,300 3,300 1,300 The amount of raw materials used in production for the year is:
a. Purchased raw materials on credit. $240,000 b. Materials requisitions record use of the following materials for the month Job 136 Job 137 Job 138 Job 139 Job 140 Total direct Baterials Indirect materials Total materials used $ 49,500 33,500 19,400 22,800 7,200 132,400 20,000 $152,400 c. Paid $15.750 cash to a computer consultant to reprogram factory equipment d. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $52,800. Raw Materials of $45,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials. 3. Factory labor costs incurred were $68,000, of which $51,500 pertained to factory wages payable and $16,500 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,100 was direct labor and $12,900 was indirect labor. 5. Manufacturing overhead costs incurred on...
Most questions answered within 3 hours.
-
If you have an eta squared of .34 and used a
between-subjects design, what does that...
asked 6 minutes ago -
*Healthcare Adminstration*
Scutchfield and Keck's Principles of Public Health Practice
4th edition
What are the differences...
asked 10 minutes ago -
Find the complete optimal solution to this linear programming
problem. Max 5x + 3y s.t. 2x...
asked 39 minutes ago -
The pH of an acetate buffer was determined to be 4.76. Then, a
few drops of...
asked 41 minutes ago -
a sample of size 1500 is used to find a confidence
interval for the percentage of...
asked 51 minutes ago -
Explain in detail the differences between qualitative and
quantitative forecasts. Include at least two examples of...
asked 55 minutes ago -
Differentiate between response time and throughput.
Explain how the physical design of a database influences
performance...
asked 57 minutes ago -
Write MATLAB code to plot the following
waveforms.
Rectangular pulses:
????(?)
????(? − ?)
????(?/?) ...
asked 57 minutes ago -
4. Adam’s Inc.’s outstanding common stock is currently selling
in the market for $28. Dividends of...
asked 1 hour ago -
question
you were
asked to create a regression that will predict the amount of saving
for...
asked 1 hour ago -
If tcalc = -2.78, tcrit = 1.96, H0: Mu > Mu0, and Xbar <
Mu0, what...
asked 1 hour ago -
Circular distribution
•Suppose two birds are flying, one is flying from the north and
the other...
asked 1 hour ago