Question 17 Adelphia Manufacturing issued $70,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction?O A. Work – in - Process InventoryRaw Materials Inventory78,00078,000O B. Manufacturing Overhead78,000Raw Materials Inventory78,000OC. Work - in - Process Inventory70,0008,000Manufacturing OverheadRaw Materials Inventory78,000O D. Raw Materials Inventory78,000Finished Goods Inventory70,000Work - in - Process Inventory8,000

The journal entry for issuing the direct material and indirect material would be debit of work in…

Adelphia Manufacturing issued $70,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? O A. Work - in - Process Inventory 78,000 Raw Materials Inventory 78,000 O B. Manufacturing Overhead Raw Materials Inventory 78,000 78,000

Adelphia Manufacturing issued $70,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? O A. Work - in - Process Inventory 78,000 Raw Materials Inventory 78,000 O B. Manufacturing Overhead Raw Materials Inventory 78,000 78,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Question 17

Adelphia Manufacturing issued $70,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction?
O A. Work – in - Process Inventory
Raw Materials Inventory
78,000
78,000
O B. Manufacturing Overhead
78,000
Raw Materials Inventory
78,000
OC. Work - in - Process Inventory
70,000
8,000
Manufacturing Overhead
Raw Materials Inventory
78,000
O D. Raw Materials Inventory
78,000
Finished Goods Inventory
70,000
Work - in - Process Inventory
8,000

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