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lesya692 [45]
2 years ago
15

Which of the following statements are true? Multiple select question. Raw materials inventory only includes the cost of direct m

aterials. Raw materials inventory represents the cost of materials not yet used in production. When materials are purchased they are recorded in the Raw materials inventory account. Direct labor costs flow through the Raw materials inventory account.
Business
1 answer:
lilavasa [31]2 years ago
8 0

The true statements are:

  • Raw materials inventory represents the cost of materials not yet used in production.
  • When materials are purchased they are recorded in the Raw materials inventory account.

<h3>What are Raw materials?</h3>

Raw Materials are unprocessed materials used in the production of certain finished products.

In business accounting;

  • The raw materials inventory is recorded as the cost of materials that are yet to be used in production.
  • The materials purchased are usually recorded in the raw materials inventory account.

Learn more about raw materials here:

brainly.com/question/825024

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The CPA Practice Advisor reports that the mean preparation fee for 2017 federal income tax returns was $273. Use this price as t
larisa [96]

Answer:

The CPA Practice Advisor

The probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean is:

= 56%

Explanation:

a) Data and Calculations:

Population mean (preparation fee for 2017 federal income tax returns) = $273

Population standard deviation of preparation fees = $100

Mean price for a sample of 30 federal income tax returns = $257 (which is within $16 of the population mean)

z = (x-μ)/σ

z = standard score

x = observed value

μ = mean of the sample

σ = standard deviation of the sample

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Why would you want to limit your borrowing when making economic decisions ?
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Exercise 4-15A Calculate net cash flows (LO4-7) Below are several transactions for Meyers Corporation for 2021. Issue common sto
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Answer:

$12,600

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b. Purchase building and land with cash,            -$25,000

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e. Collect $4,000 on account from customers     $4,000

f. Pay employee salaries                                        -$8,000

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   Net Cash Flow                                                    <u>$12,600</u>

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