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Sati [7]
3 years ago
8

job cost journal entries prior to the beginning of 2016, lowe company estimated that it would incur $264,000 of manufacturing ov

erhead cost during 2016, using 24,000 direct labor hours to produce the desired volume of goods. on january 1,2016, beginning balances of materials inventory, work in process inventory, and finished goods inventory were $42,000, $-0-, and $64,500, respectively. required prepare general journal entries to record the following for 2016. a. purchased materials on account, $58,500.
Business
1 answer:
saw5 [17]3 years ago
4 0

Answer:

raw materials inventory    58,500 debit

                      accoutns payable       58,500 credit

Explanation:

Required prepare general journal entries to record the following for 2016. a. purchased materials on account, $58,500.

The raw materials inventory will increase for 58,500 which is the amount purchased. As the materials are an asset, we will debited.

We will also use an account to represent the debt we have with our providor.

We have an "account to pay" --> account payable

As this is a debt, we have a liability. Thus we credit to increase it-

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The full form of GM is “General Manager“. A general manager (GM) is in charge of part or all of a company's operations, including generating revenue and controlling costs. He/She has overall responsibility for a business or a business unit within a larger organization.

4 0
3 years ago
When we physically encounter a three-dimensional form, the tactile sensation we experience is its ________. Two-dimensional imag
babymother [125]

Answer:

When we physically encounter a three-dimensional form, the tactile sensation we experience is its <u>ACTUAL TEXTURE</u>. Two-dimensional images, however, have <u>IMPLIED TEXTURE</u>, which means the artist creates an effect that reminds us of our tactile memory of a real-life surface. Artists who wish to contradict our previous tactile experiences employ <u>SUBVERSIVE TEXTURE</u> in order to make us reconsider our preconceptions about the world around us.

Explanation:

Actual texture is combination of how an artwork looks and how it actually feels when someone touches it. Even paintings have texture and different artists use different painting techniques to create that texture.

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3 0
3 years ago
You are examining an investment opportunity. It would require you to pay money today and then receive payments semi-annually fro
Lady_Fox [76]

Answer:

The semi annual rate is 4.88%

Explanation:

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Therefore, the semi-annual rate (i.e. periodic return per six months) do you require (i.e. need to earn such that this implies 10% earned per year when you get to compound semi-annually) is 4.88%.

 

5 0
3 years ago
Which of the following is true concerning cost drivers for the predetermined overhead rate in a process-costing system?
Georgia [21]

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5 0
4 years ago
What are 3 ways to select an entire document
enyata [817]

Answer:

To select the entire document, you can use any of these

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Explanation:

4 0
3 years ago
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