On November 1, Arvelo Corporation had $32,000 of raw materials on hand. During the month, the company purchased an additional $78,000 of raw materials. During November, $95,000 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 $3,000.Prepare journal entries to record these events. Use those journal entries to answer the following questions:  The debits to the Manufacturing Overhead account as a consequence of the raw materials transactions in November total:

A. $3,000
B. $0
C. $95,000
D. $92,000


Answer: A

Business

You might also like to view...

Answer the following statements true (T) or false (F)

1. All employees in an organization perceive organizational decisions in the same way. 2. Each person’s perception is their reality. 3. Once formed, perceptions cannot be changed. 4. Because judgments can change, first impressions do not really matter.

Business

If integrated marketing communications works as intended, customers should receive clear and consistent messages.

Answer the following statement true (T) or false (F)

Business

The commonly used 100% forward contract cover is a symmetric hedge

Indicate whether the statement is true or false.

Business

Your written or video inventory of your assets should be kept in a safe place such as a lock box at your bank

Indicate whether this statement is true or false.

Business