ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to Work In Process, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased $ 93,500 Indirect materials issued to production 23,200 Total materials issued to production 124,000 Beginning materials inventory 53,700 The debit to Work-in-Process Inventory account for materials is: Multiple Choice $124,000. $23,200. $93,500. $100,800. $53,700.
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to Work In Process, while indirect materials are charged to the Factory Overhead account. During the month of April, the company has the following cost information: Total materials (direct and indirect) purchased $ 93,500 Indirect materials issued to production 23,200 Total materials issued to production 124,000 Beginning materials inventory 53,700 The debit to Work-in-Process Inventory account for materials is: Multiple Choice $124,000. $23,200. $93,500. $100,800. $53,700.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to Work In Process, while indirect materials are charged to the Factory
| Total materials (direct and indirect) purchased | $ 93,500 |
|---|---|
| Indirect materials issued to production | 23,200 |
| Total materials issued to production | 124,000 |
| Beginning materials inventory | 53,700 |
The debit to Work-in-Process Inventory account for materials is:
Multiple Choice
-
$124,000.
-
$23,200.
-
$93,500.
-
$100,800.
-
$53,700.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education