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Michael9979
03.03.2020 •
Business
Clarksen Company uses a process costing system. The company requisitioned $93,000 of materials for Department A and $67,000 of materials for Department D. The entry to record the use of the direct materials by these two departments is: Multiple Choice Debit Raw Materials Inventory $160,000; credit Accounts Payable $160,000. Debit Work in Process Inventory—Dept. A $93,000; debit Work in Process Inventory—Dept. D $67,000; credit Raw Materials Inventory $160,000. Debit Factory overhead $160,000; credit Raw Materials Inventory $160,000. Debit Raw Materials Inventory—Dept. A $93,000; debit Raw Materials Inventory—Dept. D $67,000; credit Work in Process Inventory $160,000. Debit Work in Process Inventory—Dept. A $93,000; debit Work in Process Inventory—Dept. D $67,000; credit Accounts Payable $160,000.
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Ответ:
The correct journal entries should be:
Department A:
Dr Work in progress inventory 93,000
Cr Raw materials inventory 93,000
Department D:
Dr Work in progress inventory 67,000
Cr Raw materials inventory 67,000
Explanation:
Raw materials is an asset account with a debit balance, and since we must decrease it, we have to credit the amounts. Work in progress (WIP) inventory is an asset account so it has a debit balance.
Ответ:
19,840 pounds
Explanation:
The computation of actual quantity of materials is shown below:-
Materials usage variance = (Selling quantity - Actual quantity) × Standard Price
= (10,000 × 2 - Actual quantity) × $10 = $1,600
= (20,000 - Actual quantity) × $10 = $1,600
= 20,000 - Actual quantity = $160
Actual quantity = 20,000 - $160
= $19,840 pounds
Therefore for computing the actual quantity of materials we simply applied the above formula.