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
mafiozo [28]
2 years ago
12

ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP

, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information:
Total Materials (Direct and Indirect) Purchsed = $ 90,000
Indirect Materials Issued to Production = 30,000
Total Materials Issued to Production = 110,000
Beginning Materials Inventory = 50,000
The debit to Work-in-Process Inventory account for materials is:__________
A. $110,000.
B. $30,000.
C. $90,000.
D. $80,000.
E. $50.000.
Business
1 answer:
Elodia [21]2 years ago
3 0

Answer:

D. $80,000

Explanation:

When costs are incurred during manufacture, they are debited to the Work In Process Account.

Note that, ABC charges direct materials to WIP and indirect materials are charged to the Factory Overhead account.

Total Direct Materials = Total Materials Issued to Production - Indirect Materials Issued to Production

therefore,

Total Direct Materials = $110,000 - $30,000 = $80,000

Conclusion :

The debit to Work-in-Process Inventory account for materials is $80,000

You might be interested in
Financial educators often recommend that individuals should:
Marina86 [1]

Answer: D

Explanation: it is advisable to use government benefits as an important source of income prior to retirement. Since income will no longer flow like before during the retirement period, government benefit and other allowance remain as the source of income for especially in a situation where there is no other private source of income.

3 0
3 years ago
You expect KT industries​ (KTI) will have earnings per share of $ 6 this year and expect that they will pay out $ 2.25 of these
snow_lady [41]

Answer:

Value of a share = $15

Explanation:

<em>According to the </em><u><em>dividend valuation model</em></u><em>, the value of a share is the present value of expected dividend discounted at the required rate of return. </em>

This model is expressed in the formula below;

Value of a share = D/Ke

D- dividend payable in year one

Ke- cost of equity

Value of a share = 2.25/0.15

Value of a share = $15

Value of a share = $15

7 0
3 years ago
In the former Soviet Union, the quantities of output and prices to be charged by key firms were determined by
lukranit [14]

Answer: Gosplan

Explanation:

8 0
3 years ago
"A customer holds 10 ABC Jan 60 Call contracts. ABC Corporation is paying a 20% stock dividend. On the ex date, the contracts wi
Viefleur [7K]

Answer:

On the ex date, the contracts will show as:

10 ABC Jan 60 Calls

The customer must exercise call contracts to buy the stock prior to the Ex-Date

Explanation:

The reason is that if the customer is not exercising the call contracts then it will not be able to receive the stock dividend. Furthermore, the OCC doesn't adjust the contract because of the dividend announcement prior to exercise of contract. This means it will only adjust if the contract is exercised.

The settlement of the exercise takes around 2 business working days, hence the customer must exercise the option 2 days earlier to the ex-date.

3 0
3 years ago
What is a caterer what is his job
Oksi-84 [34.3K]
A caterer is someone who arranges the delivery, preparation and presentation of food for clients. If you've ever attended a bridal shower, fund raiser, rehearsal dinner, wedding reception or a bar mitzvah that had beautifully prepared and presented food, chances are that event was catered.
6 0
3 years ago
Other questions:
  • Gen-Fast Shoes wants to expand internationally and is deciding if its line of tennis shoes can be sold at a high price in Europe
    9·1 answer
  • What economic measurement would most likely rise before falling when transitioning state owned businesses to privately owned bus
    6·2 answers
  • Suppose a perfectly competitive​ firm's total cost of production​ (TC) is:
    8·2 answers
  • Sandra, a manager at Evolve Corp, frequently engages her team in recreational activities. Every employee is friendly with one an
    5·1 answer
  • A company's fixed operating costs are $370,000, its variable costs are $3.25 per unit, and the product's sales price is $5.65. W
    13·1 answer
  • Mole Mfg. has asked you to develop a chase plan for the production of its earth moving equipment. Below is the beginning invento
    6·1 answer
  • Brooks Foundry in Charleston, South Carolina​, uses a predetermined manufacturing overhead rate to allocate overhead to individu
    12·1 answer
  • Pina Inc. has outstanding 10,500 shares of $10 par value common stock. On July 1, 2020, Pina reacquired 104 shares at $87 per sh
    5·1 answer
  • Merv's Hardware, a small family-owned store in Middletown, sells a 100-pack of garnet sandpaper for $35. The Home Shoppe, a larg
    12·1 answer
  • Profiteer ltd reported retained earnings of r100000 and r80000 in therir statement of financial positionn for the years 2011 and
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!