1. A kleenex manufacturer purchased $165,000 of raw materials on account during the month of April. The beginning Raw Materials account balance was $32,000 and during April $171,000 of materials were requisitioned for production ($12,000 of which were not traceable to specific jobs). True or False: the entry to record the goods requisitioned will include a debit to work in process for $159,000.

2. The cost of advertising is classified as:

A) prime cost

B) period cost

C) conversion cost

D) all of them

3) Goods that have been sold could be included on the sellers balance sheet despite having already been shipped. true or false?

Answer rating: 100% (QA)

Solution Answer to Requirement 1 The Journal entry to record issue of Raw Mate... View the full answer