Chavez Corporation reported the following data for the month of July:Inventories: BeginningEndingRaw materials$27,000$30,000Work in process$16,000$17,000Finished goods$32,000$47,000 Additional information: Raw materials purchases$66,000Direct labor cost$91,000Manufacturing overhead cost incurred$59,000Indirect materials included in manufacturingoverhead cost incurred$8,000Manufacturing overhead cost applied to Work in Process$58,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is:
A. $66,000
B. $63,000
C. $55,000
D. $69,000
Answer: C
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Fill in the blank(s) with the appropriate word(s).
Which of the following accounts is decreased with a credit?
A. Unearned Revenue B. Service Revenue C. Accounts Payable D. Prepaid Insurance
In the entrepreneurial strategy matrix, the probability of a major financial loss is categorized as a(n)
a. innovation. b. risk. c. time lag. d. psychological commitment.
A variety of discounts offered by the seller as incentives for the customer to act in a way benefiting the seller.
What will be an ideal response?