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Nata [24]
3 years ago
14

When determining costs of jobs, how does a company account for indirect materials?

Business
1 answer:
Gnesinka [82]3 years ago
3 0
It is transferred out of raw materials into manufacturing overhead when used 
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Raw Materials Inventory, beginning to balance $36,000
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Answer:

1. Journal Entry                        Debit        Credit

  Raw materials inventory      $73,400

   ($72,000 + $1,400)

          Accounts payable                          $73,400

   (Being raw materials purchase on credit)

2. Journal Entry                        Debit        Credit

  Work in process                      $64,300

   ($64,000 + $300)

        Raw materials inventory                    $64,300

                   <u>Raw Material Inventory Account</u>

Beginning balance    $36,000  |  Work in process $64,300

Purchase                    $73,400  |                              <u>            </u>

                                                   | Ending balance    <u>$45,100</u>

                                                   |  ($36,000 + $73,400 - $64,300)

3 0
3 years ago
I dont have to pay for this right?
olga nikolaevna [1]

Answer:

no

Explanation:

7 0
3 years ago
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Statement Of Owner's Equity Jay Pembroke started a business in April. Prepare a Statement of Owner's Equity using the following
Dovator [93]

Answer:

$2,433

Explanation:

Net Income = Sales - Expenses

where,

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and

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3 0
2 years ago
The economy is in a recession and the government wants to increase output. If the multiplier equals 3 and the government increas
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Answer:

The correct answer is option D.

Explanation:

Because of recession the government wants to increase output.

The increase in government spending is equal to $250.

The size of the money multiplier is 3.

The increase in output will be

== government\ spending\ multiplier\times increase\ in\ spending

=250\ \times\ 3

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So, the correct answer is option D.

8 0
3 years ago
A crosswalk_<br>when there are no pavement markings.​
antoniya [11.8K]

Answer: It just would not be a cross walk it would be a road.

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