Solved

Figure 6-1 the Sinbad Company Has the Following Information for the Assembly

Question 24

Multiple Choice

Figure 6-1 The Sinbad Company has the following information for the Assembly Department for October 2014:
Figure 6-1 The Sinbad Company has the following information for the Assembly Department for October 2014:   Overhead rate is 200 percent of direct labor costs. Allen Company uses a process costing system for the Assembly Department. Refer to Figure 6-1. The journal entry to record materials purchased would include a A)  debit to Materials Inventory for $45,000. B)  debit to Materials Inventory for $49,000. C)  credit to Accounts Payable for $49,000. D)  both b and c. Overhead rate is 200 percent of direct labor costs.
Allen Company uses a process costing system for the Assembly Department.
Refer to Figure 6-1. The journal entry to record materials purchased would include a


A) debit to Materials Inventory for $45,000.
B) debit to Materials Inventory for $49,000.
C) credit to Accounts Payable for $49,000.
D) both b and c.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions