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
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

You might be interested in
_________ policy involves the decision to pay out earnings to shareholders or to retain and reinvest them in the firm. When dist
Norma-Jean [14]

Answer:

The blanks anwers are below

Explanation:

Kindly consider blanks in order:

Payout policy

Repurchasing

Maximize

Payout

Rise/Increase

Decline

Decrease

Sustainaible

maximizes

Some blanks may not match. The answers are correct although.

3 0
3 years ago
Building a foundation in the knowledge of consumer needs and interests will help you to
Ronch [10]

Answer:

Its D

Explanation:

took the test

4 0
4 years ago
Global market channels involve a firm producing goods in:______
topjm [15]

Answer:

A. Their home country and exporting them to other countries.

Explanation:

A global market channel generally explains the production of commodities by a certain or group of firms and goods by a home country and exporting them to other countries. This is seen generally in the production of phones, laptops, tv brands refrigerators and a whole lot of products amongst tier 1 or tier 2 countries and are been shipped to lowest their countries and other tier countries. This is seen to boost the economy and international trade friendship of either countries though the country at the recieving end is loosing per capital but at the end, we need each other to grow and live.

3 0
4 years ago
The manufacturing overhead account is debited when ______.
Rufina [12.5K]

Production process involves different type of cost and expenses, manufacturing overhead account is one and it is debited when overhead applied is less than the actual overhead costs incurred.

<h3>What is manufacturing overhead cost?</h3>

It is the sum of all the indirect costs that were spent while manufacturing a product.

The amount in the manufacturing overhead account can either be a debit or credit.

It is a debit when the overhead is less than the actual overhead costs that were spent.

Therefore, The manufacturing overhead account is debited when the overhead applied is less than the actual overhead costs incurred.

Learn more manufacturing overhead accounts here

brainly.com/question/15739613

5 0
2 years ago
For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or lo
algol13

Answer:

This firm's <u>Shut down price</u>, That is, the price below which it is optimal for the firm to shut down is <u>$40</u>.

Explanation:

Shut down point is the point at which a firm or business is not able to gain any profit or benefit from the operations. Firm try to stay in the market until they reach the shut down point in business. It is a point where a business revenue just covers the variable expenses.

5 0
3 years ago
Other questions:
  • Since its establishment in 1945, the United Nations has...
    8·1 answer
  • Which of the following is not an advantage of budgeting? a.It forces managers to plan. b.It provides information for decision ma
    14·2 answers
  • A prospective buyer is interested in purchasing a vacant lot in a rural subdivision. The buyer wishes to know about sewer assess
    11·1 answer
  • The sarbanesminus−oxley act of 2002 resulted in​ ________.
    15·1 answer
  • In four or five sentences, explain why you should research a potential employer before actively seeking employment.
    7·2 answers
  • Which of the following is the cost of quality classification for costs such as inspection, testing, and other tasks to ensure th
    9·1 answer
  • Nepal is secular country​
    13·1 answer
  • Think about a financial decision you made regarding the purchase of a big-ticket item or investment within the last five years.
    8·1 answer
  • The following information is available for the year ended December 31: Beginning raw materials inventory $ 3,900 Raw materials p
    6·1 answer
  • Globalization can create more opportunities for marketers but along with that comes more pressure because they must take into ac
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!