answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BlackZzzverrR [31]
1 year ago
12

Squirrel Co. operates in a lean manufacturing environment. For June production, Squirrel purchased 6,000 units of raw materials

at $6.00 per unit on account. The journal entry required to record this transaction is:
a. Raw Materials Inventory36,000
Accounts Payable36,000

b. Raw and In Process Inventory36,000
Accounts Payable36,000

c. Finished Goods36,000
Accounts Payable36,000

d. Cost of Goods Manufactured36,000
Accounts Payable36,000
Business
1 answer:
valina [46]1 year ago
3 0

Answer:

At the time of purchase of raw material inventory,

Raw material inventory account will debit and accounts payable account will credit.

Therefore, the Journal entry for this transaction is as follows:

Raw Materials Inventory Account    Dr. $36,000

To Accounts Payable                                           $36,000

(To record the purchase of raw material on account)

Workings:

Raw material Inventory = Units of raw material purchased × Price per unit

                                       = 6,000 × $6

                                       = $36,000

You might be interested in
Xer-wise markets and promotes its products to consumers over the internet. melody and tom are considering a more aggressive appr
aniked [119]
Viral Marketing. Viral Marketing is the term used to describe everything from paying people to say positive things on the Internet to setting up multilevel selling schemes whereby consumers get commissions for directing friends to specific websites. <span />
8 0
2 years ago
Marianne has opened a jewelry shop in your community and sources precious gems and metals only from Canada rather than Africa. H
S_A_V [24]

Answer:

A. reducing her exposure to the risk of reputation damaging clients.

Explanation:

CSR otherwise known as corporate social responsility is a self act by a company aimed at contributing to the development of the society or environment where the company operates. It is a volunteering and philanthropic .

Companies have now been factoring CSR into their business model because it helps them to be socially responsible and accountable. Most consumers are now beginning to check on companies who does CSR before choosing their brand.

Examples of CSR includes provision of health care facilities to the environment where the company operates, provision of scholarships to students of the host community, sponsoring events, employing people withing the community etc.

The impact of CRS and environmentally sustaining business includes but not limited to

- positively building a company's image

- increasing buyer patronage

-shortening the supply chain

-lowering cost and enhancing employee recruiting and workforce retention.

8 0
1 year ago
When the Federal Reserve sells a government bond to a primary dealer, reserves in the banking system ________ and the monetary b
Sindrei [870]

Answer: Increase; increases

When the Federal Reserve sells a government bond to a primary dealer, reserves in the banking system <u>increase </u>and the monetary base <u>increases</u>, everything else held. | This happens because when the Government bonds, the banking system will increase everything else held with it.

5 0
2 years ago
Aslam wants to create multiple worksheet containing common formatting styles for his team members. Which file extension helps hi
vova2212 [387]

Templates allow people to create workbooks that look similar because it provides the basic outline and style designs premade for the user. These types of files would be saved as xlts, which is the extension for Excel Template files.

8 0
1 year ago
Read 2 more answers
Lopez Corporation incurred the following costs while manufacturing its product Materials used in product Depreciation on plant P
Sonja [21]

Answer:

See attached file

Explanation:

4 0
1 year ago
Other questions:
  • What is a minimally acceptable rate of pay?
    10·1 answer
  • Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price $ 63,000 Sales tax 5,400 Shipment
    13·1 answer
  • NCH Corporation, which markets cleaning chemicals, insecticides and other products, paid dividends of $2.00 per share in 1993 on
    13·1 answer
  • This month your vendor invoiced $31,500 in testing charges for your production run. The unit cost for testing is twice as much f
    6·1 answer
  • Rachel lives and works on her father’s dairy farm as a large animal veterinarian. The farm does not employ any outside workers.
    13·1 answer
  • The group of runners that finished behind Usain Bolt was closely bunched and were said to have competitive parity. Burger King a
    14·1 answer
  • (LaVilla) LaVilla is a village in the Italian Alps. Given its enormous popularity among
    8·1 answer
  • Lauren is a healthy 27-year-old who does not plan to visit the doctor. What are the best reasons for her to find a
    6·2 answers
  • Altacey, a multinational company that sells consumer durables, divides its target markets on the basis of the density of populat
    8·1 answer
  • Employees will perceive that their opinions are more valued if Multiple Choice they're given personalized, closed-end question-t
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!