Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During March Zea Inc. transferred $61000 from Work in Process to Finished Goods and recorded a cost of Goods Sold of $67,000. The Journal entries

image text in transcribed
image text in transcribed
During March Zea Inc. transferred $61000 from Work in Process to Finished Goods and recorded a cost of Goods Sold of $67,000. The Journal entries to record these transactions would include a Multiple Choice credit to cost of Goods Sold of $67000 debit to finished Goods of 567.000 Oo oo credit to Work in Process of 361000 O credit to Finished Goods of $61.000 Compute the amount of raw materials used during November if $34,000 of raw materials were purchased during the month and if the inventories were as follows Inventories Raw materials Work in process Pinished goods Balance November 1 $ 8,600 $ 6,800 $10,800 Balance November 30 $ 4,800 $ 8,300 $12,800 1 Multiple Choice O $35,500 O $34,300 O $31,800 $37,800 O

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Principles And Issues

Authors: Michael H. Granof, Philip W. Bell

4th Edition

013321852X, 978-0133218527

More Books

Students also viewed these Accounting questions

Question

What are possible safety concerns? Explain.

Answered: 1 week ago

Question

What would you do if you were in Margarets shoes?

Answered: 1 week ago