1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tom [10]
3 years ago
6

Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventor

y balance was $22,000, and the materials used to complete jobs during the month were $141,000 direct materials and $13,000 indirect materials. What amount will Andrew transfer to Work In Process Inventory for the month of March?
Select one:
a. $165,000
b. $154,000
c. $13,000
d. $141,000
e. $33,000
Business
1 answer:
Y_Kistochka [10]3 years ago
3 0

Answer:

d. $141,000

Explanation:

As the following information is given

Purchase of raw material = $165,000

Beginning Raw material balance = $22,000

Completed direct material = $141,000

Completed indirect material = $13,000

Since the work in progress includes only direct material i.e $141,000 as indirect material is allocated to the overhead account. Therefore, only $141,000 of raw material is transferred to work in process account

So other information which is mentioned is ignored

You might be interested in
A-Z Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prepaid $18,480 to the city for
Nina [5.8K]

Answer:

Explanation:

The journal entries are shown below:

Taxes expense A/c Dr $12,320

        To Prepaid Taxes                      $12,320

(Being prepaid taxes are adjusted)

Taxes expense A/c Dr $45,000

        To Property taxes payable                   $45,000

(Being property taxes are adjusted)

The prepaid taxes are computed below:

= Prepaid taxes × (number of months ÷ total number of months in a year)

= $18,480 × (8 months ÷ 12 months)

= $12,320

The eight months is calculated from May 1  to December 31

6 0
2 years ago
"What advice would you give in this ethical dilemma? Brittani is serving as interim editor of the company newsletter. She receiv
scoray [572]
<span>Brittani is in an ethical dilemma because she does not want to disrespect the president written article but she must provide him with accurate feedback for the company. Brittani must approach the situation with respect and facts. The best way for Brittani to do this is to call the president and ask for a face to face meeting and to gently point out not only the flaws in the article but also the strong points.</span>
6 0
3 years ago
Sanyu Sony started a new business and completed these transactions during December.
timurjin [86]

Answer:

Net income = $4,160

Ending Retained Earnings = $3,210

Total assets = $76,760

Total liabilities and equity = $76,760

Cash balance = $59,180

Explanation:

see the attached file below

Download docx
3 0
3 years ago
Lake Co. receives nonrefundable advance payments with special orders for containers constructed to customer specifications. Rela
omeli [17]

Answer:

Lake Co.

Current Liability for Advances from Customers in Dec. 31, 2021 balance sheet:

Amount to report as current liability for advances from customers:

= $127

Explanation:

Advances from Customers:

Dec. 31, 2020 balance       $120

Cash received                      189

Total liability                      $309

Earned Revenue                 182

Current liability                  $127

Advances, which Lake Co., received from customers for orders not yet fulfilled are recorded as deferred revenue or liabilities because Lake Co. is still owing the respective customers until the services or goods are provided.  Earned Revenue is the value of revenue that would be reported in the income summary for which exchange of value or promises had been completed.

8 0
3 years ago
The many uses of oxiclean products are shown in a program-length television commercial. this is a(n) _____ form of advertising.
svetlana [45]

Answer:

Infomercial.

Explanation:

An infomercial is a form of advertisement which is aimed at educating the customer about a product or a series of products via television in the form of a program.

7 0
3 years ago
Other questions:
  • A piece of property bought by XYZ Corporation a few years ago was sold for $5 M. The cost basis for this property was $2.75 M. T
    7·1 answer
  • Suppose that a worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year, and a worker in Sylvania can
    12·1 answer
  • Lily created comment cards to give to customers during the month of July. She takes all the feedback she received and determines
    13·2 answers
  • You are thinking of investing in Ski Sports, Inc. You have only the following information on the firm at year-end 2018: net inco
    9·1 answer
  • When the price of bubble gum is $0.50, the quantity demanded is 400 packs per day. When the price falls to $0.40, the quantity d
    5·1 answer
  • QUESTION 2
    15·1 answer
  • What is the tax penalty for no health insurance 2016?
    6·1 answer
  • Sterling Corporation prepares its financial statements in accordance with IFRS. Sterling paid $10,000 of interest during the yea
    5·1 answer
  • On July 10, 2019, Ariff places in service a new SUV that cost $70,000 and weighed 6,300 pounds. The SUV is used 100% for busines
    7·1 answer
  • site:coursehero.com why is it crucial to collect and analyze data when planning professional development sessions?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!