Requisitioned by the production supervisor for production

Assignment Help Financial Accounting
Reference no: EM13746914

Direct materials of $10,000 are requisitioned by the production supervisor for the production area. Job order costing is used. The journal entry to record this transaction is:

a. work in progress inventory $10,000 direct materials inventory $10,000

b. direct materials inventory $10,000 accounts payable $10,000

c. direct materials inventory $10,000 work in progress inventory $10,000

d. finished goods inventory $10,000 direct materials inventory $10,000

Reference no: EM13746914

Questions Cloud

Uses the straight-line method of amortization : Garland Company received proceeds of $188,000 on 10-year, 6% bonds issued on January 1, 2013. The bonds had a face value of $200,000, pay interest semi-annually on June 30 and December 31. Garland uses the straight-line method of amortization. What i..
Variable costing is also called : Three types of costs accumulated on job cost records that include direct materials, and. Variable costing is also called
What part of the libertys annual report : What part of the liberty's annual report is written by the company and could present a biased view of financial conditions and reports?
Writing a critical analysis statement : Writing a Critical Analysis Statement. "Although Stevens was an unabashed partisan, he was no rogue agent. He had been sent to Hawaii to promote annexation, and the men who sent him.
Requisitioned by the production supervisor for production : Direct materials of $10,000 are requisitioned by the production supervisor for the production area. Job order costing is used. The journal entry to record this transaction is:
Fixed cost controllable by a segment manager : If the direct labor variance is $800 favorable and the direct labor usage variance is $700 unfavorable then. Which of the following is NOT a fixed cost controllable by a segment manager? Which of the following is NOT a service department?
Used to allocate variable costs from service departments : Which of the following formulas should be used to allocate variable costs from service departments to user departments? The phrase "cost allocation" refers to the allocation of total department costs to, If a department identifies more than one cost ..
What are the equivalent units for materials for the month : A company produces plastic cups in a one - department process. The units in process at the end of the month are 100 percent complete with respect to materials and 50 percent complete with respect to conversion costs. What are the equivalent units for..
Compute the minimum quarterly estimated-tax payments : Kold Corporation estimates that its 2015 taxable income will be $900,000. Thus, it is subject to a flat 34 percent income tax rate and incurs a $306,000 tax liability. For each of the following independent cases, compute the minimum quarterly estimat..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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