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 credits to the Raw Materials account for the month of November total:
A. $95,000
B. $32,000
C. $110,000
D. $78,000
Answer: A
You might also like to view...
The business decisions made by the accounting department include manufacturing data, distribution data, and production data.
Answer the following statement true (T) or false (F)
Sylvia puts forth a great deal of effort in her job and believes that it will lead to good performance. This is referred to as which element of expectancy theory?
A. instrumentality B. valence C. expectancy D. self-efficacy
Compare and contrast the significance of verbal versus nonverbal communication.
What will be an ideal response?
Perceived value and signaling value are often an important part of a successful differentiation strategy because
A. differentiation is all about selling products to sophisticated buyers. B. there are no other ways to differentiate a product. C. buyers seldom will pay for value they don't perceive, no matter how real the value of the differentiating extras may be. D. buyer satisfaction cannot be achieved until a product's value is promoted through clever ads. E. of the standardization of buyer needs and preferences.