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3 years ago

LO 4.7In a job order cost system, raw materials purchased are debited to which account?

Business

1 answer:

laiz [17]3 years ago

3 0

Answer:

Raw materials inventory

Explanation:

Since the raw material is purchased which increase the stock account so we debited it and for purchasing the raw material, the cash is given or it can takes on credit so we credited it

So, the journal entry would be

Raw material A/c Dr

To Cash A/c

(Being raw material purchased for cash)

Raw material A/c Dr

To Accounts payable A/c

(Being raw material purchased on credit)

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Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $

attashe74 [19]

Answer:

$1,702 , $1,497, and $1,957

Explanation:

The computation of the total cost is shown below:

Particulars Strawberry Vanilla Chocolate

Direct Labor $766 $841 $1,141

Direct Material $816 $516 $616

Overhead $120 $140 $200

(60 × 2) (70 × 2) (100 ×2)

Total Cost $1,702 $1,497 $1,957

We simply added the direct labor cost, direct material cost and the overhead cost so that the total cost could come

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3 years ago

Distinguish between planned economy and mixed economy?

Anettt [7]

Answer:

CHECK THE EXPLANATION.

Explanation:

A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning whereas a mixed economy is an economy organized with some free market elements and some socialistic elements, which lies on a continuum somewhere between pure capitalism and pure socialism. ... Mixed economies socialize select industries that are deemed essential or that produce public goods.

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2 years ago

What do different jobs in the marketing career cluster have in common

Tasya [4]

A career cluster is a group of like careers that allow you to pick different types of sections within the same career. Marketing refers to public relations, advertising, sales and planning. Each of these sections are very important to make sure the marketing plan goes as planned and completes what it was intended to do. The cluster of different sections make up the entire marketing career which are essential to make sure the advertising is completed.

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2 years ago

Read 2 more answers

the contribution margin income statement allows users to easily judge the impact of a change in ______ on profit.

Ne4ueva [31]

The blank space has been correctly filled below:

The contribution margin income statement allows users to easily judge the impact of a change in <u>selling price, cost, or volume</u> on profit.

The contribution margin income statement is an evaluation of a former sales period. Entrepreneurs use this procedure to determine whether they made a profit or loss during the period.

After their evaluation, they realize the operating income or net income. The contribution margin is generated using this formula,

Net product revenue - Total variable cost ÷ product revenue.

A proper understanding of the fixed and variable costs is essential to accurately calculate the contribution margin.

Learn more here:

brainly.com/question/24596251

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1 year ago

You're on a social media team for a outdoors brand called Appalachia. They've decided to revitalize their Pinterest account and

Lapatulllka [165]

Inbound marketing is the process of coordinating and facilitating potential customers to find a particular company.

An outdoor brand called Appalachia can revitalize its Pinterest account and engage its customers on the platform by streamlining content creation:

Inbound marketing emphasizes building enduring and dependable relationships with your customers and attracting newer customers in an organic way.
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The company and its social media team would not only involve themselves in revitalizing their Pinterest account by making it more appealing and attractive to potential customers.
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This could mean presenting insights into ways in which the customer chooses to buy from the company and prioritizes the particular company over other options.
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1 year ago