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scoundrel [369]
3 years ago
12

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit

; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the purchase of materials is: Debit Raw Materials Inventory $198,000; credit Work in Process Inventory $198,000. Debit Work in Process Inventory $198,000; credit Accounts Payable $198,000. Debit Raw Materials Inventory $198,000; credit Finished Goods Inventory $198,000. Debit Work in Process Inventory $195,000; credit Raw Materials Inventory $195,000. Debit Raw Materials Inventory $198,000; credit Accounts Payable $198,000.
Business
1 answer:
Minchanka [31]3 years ago
5 0

Answer:

Raw Material Inventory A/c Dr.        $198,000

  To Accounts Payable A/c                                          $198,000

That is the last option of all the given options.

Explanation:

When inventory is purchased then, effect of such purchase will be:

Increase in inventory with the amount of inventory purchased for this, Raw Material Inventory will be debited,

When inventory is purchased on cash then cash is decreased and thus cash is credited, or

It is purchased on credit, then accounts payable liability is created as there will be a liability to pay to such amount to creditors back with the amount of inventory.

Thus correct entry will be:

Raw Material Inventory A/c Dr.        $198,000

  To Accounts Payable A/c                                          $198,000

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Pay for knowledge programs:
barxatty [35]

Answer:

D. base an employee's salary on the number of task skills he or she possesses.

Explanation:

Pay for knowledge programme as the name implies, is when an employer renumerate an employee for learning or developing new skills/task on the job.

If an employee develop new skills while working and then get renumerated, this will make the employee get himself or herself acquainted with the company. In order words, the employee will go out of his way to improve his efficiency in terms of increase in productivity due to the new task skill gained.

In this reward system, the employer rewards the employee with payment increase for leaning new task and skills on the job which is beyond their regular activity.

4 0
2 years ago
During August, the Filtering Department of Speedwell, Inc. Had a beginning Work-IN Process Inventory balance of 160 units with c
Veseljchak [2.6K]

Answer: 320 units

Explanation:

The equivalent units of production for transferred in units in the Filtering Department in August under the first-in, first-out (FIFO) method goes thus:

Total units completed= 160 units + 290 units = 450 units

Beginning WIP = 160 units

Ending WIP = 30 units

Equivalent units of production:

= 450 + 30 - 160

= 480 - 160

= 320 units

8 0
2 years ago
PLEASE HELP ME
zhuklara [117]
<span>A. Connecticut Community College</span>
6 0
3 years ago
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Overall, more managerial opportunities are available for ________ women than for women in most other countries.
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3 years ago
Security P is a preferred stock and Security Z is a zero coupon bond that has 11 years remaining until maturity. Both securities
uranmaximum [27]

The duration of Security P based on the info given will be 11 years.

<h3>How to calculate the time?</h3>

From the information given, Security P is a preferred stock and Security Z is a zero coupon bond that has 11 years remaining until maturity.

Therefore, the duration will be:

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