Which of the following statements about materials is

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Managerial Accounting: The Cornerstone of Business Decision-Making
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Chapter 6 / Exercise 6-36
Managerial Accounting: The Cornerstone of Business Decision-Making
Hansen/Mowen
Expert Verified
16. Which of the following statements about materials is false ? A. Acquisitions of materials are normally charged to the Purchases account. B. The use of direct materials gives rise to a debit to Work-in-Process Inventory. C. The use of indirect materials gives rise to a debit to Manufacturing Overhead. D. The use of indirect materials gives rise to a credit to Manufacturing Supplies Inventory. E. Direct materials are accounted for in a different manner than indirect materials.
AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Bloom's: A Difficulty: Medium Learning Objective: 5 17. Summit Corporation recently used $75,000 of direct materials and $9,000 of indirect materials in production activities. The journal entries reflecting these transactions would include:
AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Bloom's: A Difficulty: Medium Learning Objective: 5 3-7
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Managerial Accounting: The Cornerstone of Business Decision-Making
The document you are viewing contains questions related to this textbook.
Chapter 6 / Exercise 6-36
Managerial Accounting: The Cornerstone of Business Decision-Making
Hansen/Mowen
Expert Verified
Chapter 003: Product Costing and Cost Accumulation in a Batch Production Environment 18. A review of a company's Work-in-Process Inventory account found a debit for materials of $67,000. If all procedures were performed in the correct manner, this means that the firm:
AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement Bloom's: N Difficulty: Hard Learning Objective: 5 19. Oregon Manufacturing incurred $106,000 of direct labor and $11,000 of indirect labor. The proper journal entry to record these events would include a debit to Work in Process for:
AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Bloom's: A Difficulty: Medium Learning Objective: 5 3-8
Chapter 003: Product Costing and Cost Accumulation in a Batch Production Environment 20. The following information relates to October: Production supervisor's salary: $2,500 Factory maintenance wages: 250 hours at $8 per hour The journal entry to record the preceding information is: A. B. C. D. E.
AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Bloom's: A Difficulty: Medium Learning Objective: 5 3-9
Chapter 003: Product Costing and Cost Accumulation in a Batch Production Environment

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