Answer:
Dr Raw materials $93,000
Cr Accounts payable $93,000
Explanation:
Based on the information given we were told that during the month, the corporation had to purchased an additional raw materials of the amount of $93,000 which means that the journal entry to record the purchase of raw materials would include a:
Dr Raw materials $93,000
Cr Accounts payable $93,000
(To record purchase of raw materials)
Answer:
A. Check the Insurance and Liability section of your mutual aid agreement
Explanation:
Firstly, a mutual aid agreement is a documents that sets the rules or terms under which help or assistance can be provided between two parties, jurisdictions, NGO, etc.
From the above question, it is important that before any step is taken, it is important to check the insurance an liability section of the mutual aid agreement. This will help to ascertain if indeed you are responsible for the healthcare payment of the responders as claimed by the participating jurisdiction.
This helps to clarify who is responsible for the responders.
Cheers
Answer:
Purchases= $26,550
Explanation:
Giving the following information:
Production:
January= 2,900 units
February= 3,600 units
Norton budgets $20 per unit for direct materials.
Beginning inventory raw materials= $38,650.
Desired ending inventory direct materials= 10% of the next month's direct materials needed for production.
To calculate the purchases of direct material, we need to use the following formula:
Purchases= production + desired ending inventory - beginning inventory
Purchases= 2,900*20 + (3,600*0.1)*20 - 38,650
Purchases= $26,550
