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Juli2301 [7.4K]
3 years ago
12

The entry to record the use of direct materials in production would include a A. credit to Finished Goods Inventory. B. debit to

WIP Inventory. C. debit to Raw Materials Inventory. D. debit to Finished Goods Inventory.
Business
1 answer:
earnstyle [38]3 years ago
3 0

Answer:  

B. debit to WIP inventory

Explanation:

The journal entry to record the usage of direct material in production is

Work in Process Inventory                                  Dr.

     To Raw Material Inventory

(Raw materials consumed recorded)

Raw material inventory is an asset. It's consumption should reduce it's balance. A debit increases an asset's balance while a credit reduces it's balance.

Work in process, like raw material is an inventory account i.e an asset. A debit increases their balance whereas a credit reduces it.

Here, raw materials i.e direct material have been issued for production, which would reduce their balance and increase the balance of work in process as finished goods are yet to be made.

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You decided to charge $100 for your new computer game, but people are not buying it. What could you do to encourage people to bu
d1i1m1o1n [39]
Lower it to $75 and see what that does
6 0
3 years ago
Consider the baggage check-in process of a small airline. Check-in data indicates that from 9am to 10am, 190 passengers checked
iren [92.7K]

Answer:

17.68 minutes

Explanation:i

In order to calculate the average time passenger had to wait in line, we would first divide the average number of passengers check-in in with the passengers checked in from 9 am to 10 am (which was the highest number of check-ins of the day). Then we would multiply that number by 60 minutes. As shown below:

First,

= 56 average number of passengers checked-in / 190 passengers checked-in from 9 to 10 am

= 0.2947

Then

= 0.2947 x 60 minutes

= 17.68 minutes

Hence, 17.68 minutes did the average passenger wait in line.

5 0
3 years ago
During a conference call with the corporate office, you are told by a senior executive that you will be going abroad in the next
vladimir2022 [97]

Answer:

C.Clarify the situation, and ask specific questions about the overseas company's cultural and ethical practices. Also, ask what your company policies are regarding intercultural ethics.

Explanation:

In doing business with foreign cultures one needs to know the expected way transactions are conducted in the country.

A senior executive told you on conference call that you should increase expense amount because when you travel abroad for a trip you will give $5,000 each to top executives of a large account.

In your locale it may be considered bribery, but in the foreign country it may be rude not to give a gift when doing business.

So you need to clarify what acceptable ethical practices are with the foreign company.

6 0
3 years ago
For the past five years, the RS Company has produced and sold electronic magnets to chemistry labs throughout the United States.
mezya [45]

Answer:

Explanation:

For a cost to be relevant it has to be futuristic and not past

A relevant cost can be said to be a cost or costs that will be incurred as a result of a particular make or buy decision, and which will change in the future as a result of that decision.

A) The machinery used to produce the magnet was purchased five-years ago for $500,000.

<em>IRRELEVANT</em>

<em>A relevant cost is a cost or costs that will be incurred as a result of the decision, and which will change in the future as a result of that decision. In this case, the machine has already been bought.</em>

B) Four of the employees who produce magnets would be reassigned to the magnifying glass division.

<em>RELEVANT</em>

<em>A relevant cost is a cost or costs that will be incurred as a result of the decision, and which will change in the future as a result of that decision. In this case, the employees will be reassigned which implies that the cost of their salaries will be a cost to be borne when they employ new hands.</em>

<em />

C) The space now used to produce the magnets would be used to eliminate the need to rent warehouse space.

<em>RELEVANT</em>

<em>A relevant cost is a cost or costs that will be incurred as a result of the decision, and which will change in the future as a result of that decision. In this case, the space will be reassigned which implies that the cost of their rent will be a cost not to be saved.</em>

<em />

D) Sales volume (units) is estimated to drop by 50% once the competitor becomes fully operational.

<em>RELEVANT</em>

<em>A relevant cost is a cost or costs that will be incurred as a result of the decision, and which will change in the future as a result of that decision. In this case, the revenue will be reduced by 50% which implies that the inflow of sales will be half the original amount going forward. This is futuristic and hence relevant</em>

6 0
3 years ago
If the demand for loans increases, the interest rate will fall.<br><br> True or false
lukranit [14]

Answer:

1. Increases in demand will increase both the interest rate and the total amount of borrowing and lending. Decreases in demand will decrease both the interest rate and the total amount of borrowing and lending.

Explanation:

7 0
3 years ago
Read 2 more answers
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