ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, 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 $ 90,900 Indirect materials issued to production 13,700 Total materials issued to production 129,000 Beginning materials inventory 51,800 The credit to the materials inventory account for materials used is: Multiple Choice $129,000. $13,700. $90,900. $115,300. $51,800.
ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, 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 $ 90,900 Indirect materials issued to production 13,700 Total materials issued to production 129,000 Beginning materials inventory 51,800 The credit to the materials inventory account for materials used is: Multiple Choice $129,000. $13,700. $90,900. $115,300. $51,800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ABC Company uses a Materials Inventory account to record both direct and indirect materials. ABC charges direct materials to WIP, 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 | $ | 90,900 | ||
| Indirect materials issued to production | 13,700 | |||
| Total materials issued to production | 129,000 | |||
| Beginning materials inventory | 51,800 | |||
The credit to the materials inventory account for materials used is:
Multiple Choice
-
$129,000.
-
$13,700.
-
$90,900.
-
$115,300.
-
$51,800.
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