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shtirl [24]
3 years ago
15

Perez Manufacturing purchased raw materials worth $ 4 comma 000 on account. The journal entry to record the purchase of raw mate

rials on account is​ ________. Process costing is used. A. debit Raw Materials​ Inventory, $ 4 comma 000​; credit​ Cash, $ 4 comma 000 B. debit​ Cash, $ 4 comma 000​; credit Raw Materials​ Inventory, $ 4 comma 000 C. debit Raw Materials​ Inventory, $ 4 comma 000​; credit Accounts​ Payable, $ 4 comma 000 D. debit Account​ Payable, $ 4 comma 000​; credit Raw Materials​ Inventory, $ 4 comma 000
Business
1 answer:
Natali [406]3 years ago
4 0

Answer:

C. debit Raw Materials​ Inventory, $ 4 comma 000​; credit Accounts​ Payable, $ 4 comma 000

Explanation:

The journal entry to record the raw material purchased on the account is as follows

Raw material inventory A/c Dr $4,000

         To Account payable A/c $4,000

(Being the raw material is purchased on account)

Since the raw material is purchased, the same is increased the current asset so it would be debited while the account payable is credited as it also increased the current liabilities account

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Answer:

The predetermined overhead rate is closest to $12.10 per hour

Explanation:

Predetermined overhead rate = (Estimated total fixed manufacturing overhead / Estimated direct labor hours)  

Predetermined overhead rate =($121,000 / 10,000)

Predetermined overhead rate = $12.10 per hour

7 0
3 years ago
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job orde
pishuonlain [190]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

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3 years ago
He difference between the largest and the smallest data values is the
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The Range is the result of subtracting the smallest number from the largest number.
3 0
4 years ago
In creating the Wii, how did Nintendo ensure a supply of complements that would motivate customers to adopt its new video game f
rosijanka [135]

Answer:

C. Nintendo produced a sufficient number of games to run on the Wii system

Explanation:

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In order to ensure dominance in the market, Nintendo decided to make available a wide variety of games for their customers.

The games made available include:

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This made more games to be developed for Wii than for the PlayStation 3 or Xbox 360.

  • Nintendo also brought up the virtual console service that allows users to play games developed for some other consoles on the Wii. These games were distributed over the internet, and users were able to download them to an SD card or the internal memory of their Nintendo Wii console.
4 0
4 years ago
Which of the following statements is correct about the requirements of an LLP?
Ber [7]

Answer:

The correct answer is letter "B": The business name must include the phrase Limited Liability Partnership or an abbreviation of the phrase, and the parties must file a form with the secretary of the state.

Explanation:

A Limited Liability Partnership or LLP is the type of business structure where partners are only liable for what they contribute to the firm. This implies if the firm goes into bankruptcy, the personal assets of the partners are not subject to liability. Under this type of partnership, the business name must include at least its abbreviation (LLP) and when setting up the firm, a letter to the secretary of state must be addressed informing about the creation of the new entity and its core purposes.

8 0
3 years ago
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