Prepare journal entries to record its following production activities. 1. Purchased $80,000 of raw materials on credit.
Question:
1. Purchased $80,000 of raw materials on credit.
2. Used $34,000 of direct materials in production.
3. Used $41,000 of indirect materials.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
1 Raw Materials Inventory 80000 Accounts Payable 80000 Purch...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Question Posted:
Students also viewed these Managerial Accounting questions
-
Prepare journal entries to record the following production activities for Hotwax. 1. Incurred direct labor of $125,000 (credit Factory Payroll Payable). 2. Incurred indirect labor of $10,000 (credit...
-
Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $9,000 of indirect materials for use in production of surfboard wax. 2. Incurred $156,000 overhead...
-
1. Prepare journal entries to record the February transactions for Splashing Around using the General Journal February GJ7 tab . Update the FIFO worksheet in the working papers when a transaction...
-
Social welfare is maximized when O Total social benefits have been maximized O total social costs have been minimized O total social costs equal total social benefits O marginal social costs equal...
-
A process stream contains light species 1 and heavy species 2. A relatively pure liquid stream containing mostly 2 is desired, obtained by a single-stage liquid/vapor separation. Specifications on...
-
Malcolm was involved in an auto accident. He was judged to be 20 percent at fault in the accident, and the other party was judged to be 80 percent at fault. Malcolm's actual damages were $40,000....
-
In the context of the model considered by Grossman [840] (as presented in Sect. 8.2), prove that there exists a Green-Lucas equilibrium price functional \(\phi^{*}: \mathscr{Y} ightarrow...
-
A company that we call DC is a Fortune 100 diversified conglomerate with operations in many industries around the world. Top management focuses on the annual earnings in evaluating the performance of...
-
Horizontal versus oblique asymptotes. a) Under what circumstances does a rational function have a horizontal asymptote of y=0 b) Under what circumstances does a rational function have a horizontal...
-
Using the information presented in Problem 13.4B, prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities using the...
-
Match each of the following items A through G with the best numbered description of its purpose. A. Process cost summary B. Equivalent units of production C. Goods in Process Inventory account D. Raw...
-
Prepare journal entries to record the following production activities. 1. Incurred total labor cost of $77,000, which is paid in cash. 2. Used $58,000 of direct labor in production. 3. Used $19,000...
-
Does big business have total control of elected officials and policies? Support your argument.
-
What is the impact if the auditor discovers that the client forgot to accrue the utility expense?
-
How do modern file systems implement features such as journaling, snapshots, and encryption to ensure data integrity, reliability, and security in the face of failures or malicious activities?
-
calculate the representative net income for 2015 In examining the income statement in Figure 1, note that there was an extraordinary loss of $170,000 in 2015. This might have represented uninsured...
-
Calculate the WACC for a firm with a debt-equity ratio of 1.9. The debt pays 10 percent interest and the equity is expected to return 17 percent. Assume a 45 percent tax rate and risk-free debt.
-
The world's largest Ferris wheel is the "London Eye", built on the south bank of the Thames River. The radius of the wheel is about 65 meters (220 feet). There are 32 climate-controlled passenger...
-
Uber, the global leader in ride sharing, entered the Middle East market in 2013, but it failed to replicate the success it had enjoyed in so many other markets around the world. It had started its...
-
What will be the final value of DI after executing the following piece of code? Execute the instructions dependently one after another. CLD MOU CX,OFOH MOU AX.02874H MOU DI,01000H MOU ES, DI SUB...
-
Sandra acquired the following ordinary shares in Pincom plc: Date 29 January 1995 13 August 1999 4 October 2011 No of shares (a) 8,400 (b) 6,300 (c) 5,200. 1,000 1,000 2,000 Cost 4,000 9,500 22,500...
-
Kryll Company set the following standard unit costs for its single product. Direct materials (25 Ibs. @ $ 4 per Ib.) . . . . . . . . . . . . . . . . . $ 100.00 Direct labor (6 hrs. @ $ 8 per hr.) . ....
-
Tohono Companys 2013 master budget included the following fixed budget report. It is based on an expected production and sales volume of 20,000 units. Required 1. Classify all items listed in the...
-
Refer to the information in Problem 23-3B. Tohono Companys actual income statement for 2013 follows. Required 1. Prepare a flexible budget performance report for 2013. Analysis Component 2. Analyze...
-
Subnet 150.66.30.0/24 100 Mbps Ethernet R1 R2 1 Gbps Ethernet R3 Serial 1.544 Mbps 3. (9 points) Consider the 3-router network above. Assume that routers R1, R2 and R3 are running OSPF with default...
-
2. (5 points) On a router that has OSPF enabled with default settings, a network manager configures the following: Rtr (config)# interface s0/2/0 Rtr (config-int)# bandwidth 500 The network manager...
-
Jones Inc. needs to make a decision under uncertainty. Given the information below evaluate their options. Alternatives Favourable market Average market Unfavourable market Large machine $ 137,500 $...
Study smarter with the SolutionInn App