The purchases journal includes the following column(s):
a. Purchases Debit.
b. All of the answers listed
c. Accounts Payable Debit.
d. Freight In Credit.
a
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Sales orders should be prenumbered documents
Indicate whether the statement is true or false
Rhodes Corporation manufactures a product with the following standard costs: Direct materials (20 yards @ $1.85 per yard) $ 37.00 Direct labor (4 hours @ $12.00 per hour) 48.00 Variable factory overhead (4 hours @ $5.40 per hour) 21.60 Fixed factory overhead (4 hours @ $3.60 per hour) 14.40 Total standard cost per unit of output $121.00 Standards are based on normal monthly production involving
2,00 . direct labor hours (500 units of output). The following information pertains to the month of July: Direct materials purchased (16,00 . yards @ $1.80 per yard) $28,800 Direct materials used (9,400 yards) Direct labor (1,880 hours @ $12.20 per hour) 22,936 Actual factory overhead 16,850 Actual production in July: 460 units a. Compute the following variances for the month of July, indicating whether each variance is favorable or unfavorable: (1) Materials purchase price variance (2) Materials quantity variance (3) Labor rate variance (4) Labor efficiency variance b. Give potential reasons for each of the variances. Be sure to consider inter-relationships among variances.
Which of the following is not a certification for accountants?
A) CIA B) CMA C) CISA D) All are true.
The free cash flow valuation model cannot be used unless a company doesn't pay dividends.
Answer the following statement true (T) or false (F)