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Rom4ik [11]
3 years ago
7

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 of direct materials and $13,000 of indirect materials. What journal entry should Andrew use to account for direct materials used in March?
Business
1 answer:
bekas [8.4K]3 years ago
6 0

Answer:

WIP            141,000 debit

overhead    13,000 debit

    Raw materials Inventory    154,000 credit

Explanation:

beginning 22,000

Purchase 165,000

used for job 141,000 this amount is work in process

indirect materials 13,000 this is actual overhead.

the entry will divide the raw materials base on their destination.

WIP            141,000

overhead    13,000

    Raw materials Inventory    154,000

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Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed
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Answer:

Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed manufacturing overhead costs $ 266,420 Fixed component of the predetermined overhead rate $ 34.60 per machine-hour Actual level of activity 7,900 machine-hours Standard machine-hours allowed for the actual output 8,200 machine-hours Actual fixed manufacturing overhead costs $ 259,960 The budget variance for February is $6,460 Favorable.

Explanation:

Budgeted fixed manufacturing overhead cost = $266,420.

Actual fixed manufacturing overhead costs  = $259,960

The budget variance for February is calculated as below:

Budget Variance = Actual Fixed Manufacturing Overheads - Budgeted Fixed Manufacturing Overheads

Budget Variance =$259,960 - $ 266,420.

Budget Variance = -$6,460

Budget Variance = $6,460 Favorable

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3 years ago
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In May, Pasta Disasta, Inc. paid its suppliers $500 that it owed for the pizza pans purchased and received in April. Which accou
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Based on the information given the account that are affected is:

  • $500 decrease in liabilities
  • $500 decrease in assets.

<h3>Accounts that are affected</h3>

Assuming the company paid its suppliers the amount of  $500 that it owed for the pizza pans they purchased and received in the month of April. Hence, liabilities account will decrease by $500 while the assets account will decrease by $500.

Thus:

  • $500 decrease in liabilities
  • $500 decrease in assets

Inconclusion the account that are affected is:$500 decrease in liabilities, $500 decrease in assets.

Learn more about account affected here: brainly.com/question/14279491

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Find the answers in the explanation below

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Stock dividend: Stock dividend unlike cash dividend is increase stock dividend as well as help stockholders to avoid tax. This subsequently does not increase the value of the company. For example, if stock dividend of a company is 5% and as much as 1 million shares, when stock dividends are declared the stockholder gets extra of 50,000 shares. The stock holder can either keep the shares or sell it to create his own

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