Overhead account as a consequence of the raw materials

Assignment Help Accounting Basics
Reference no: EM13144702

On April 1, Stelter Corporation had $34,000 of raw materials on hand. During the month, the company purchased an additional $60,000 of raw materials. During April, $70,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $7,000. Prepare journal entries to record these events. Use these journal entries to answer the following questions:

The credits to the Manufacturing Overhead account as a consequence of the raw materials transactions in April total:

a) $0

b) $70,000

c) $63,000

d) $7,000

Reference no: EM13144702

Questions Cloud

Determine population of interest : The resident would be interested in joining this recreation center if it were built. Of these 35 indicated they would be interested in joining the recreation center. The population of interest is?
Units started for production : If beginning work in process is 2,000 units, ending work in process is 1,000 units, and the units accounted for equals 5,000 units, what must units started into production be?
What is the confidence interval if deposits on daily basis : The I.R.S. did an audit and found that the deposits usually come in at $1,000 on a daily basis. What is the confidence interval.
What volume would the dry gas occupy : A sample of Oxygen is collected in a 206 mL container over water at 15C, and the barometer reads 793 torr. What volume would the dry gas occupy at 704 torr and 15C? Water's partial pressure at 15C is 12.8 torr. Answer in units of mL.
Overhead account as a consequence of the raw materials : The credits to the Manufacturing Overhead account as a consequence of the raw materials transactions in April total:
What mass of water can be heated : Suppose that coal of density 1.5 g/cm3 is pure carbon. (It is, in fact, much more complicated, but this is a reasonable first approximation.)
Investigating sampling distribution of the mean : Ssample by constructing a histogram and finding the sample mean and standard deviation, are we investigating the sampling distribution of the mean? why or why not?
What is the appearance of the f1 generation : Suppose a homozygous short, green, wrinkled pea planti is crossed with a homozygous tall, yellow, smooth plant.
Accounting treatments for parent and subsidiary : Explain the general rules and accounting treatments for the parent and subsidiary, including purchase price allocations; intangible assets, such as goodwill and impairment testing; intercompany transactions

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd