If a company sells goods that cost $80,000 for $92,000, the firm will:

A. reduce Finished-Goods Inventory by $80,000.

B. reduce Finished-Goods Inventory by $92,000.

C. report sales revenue on the balance sheet of $92,000.

D. reduce Cost of Goods Sold by $80,000.

E. follow more than one of the other procedures.

Which of the following statements about materials is false?

A. Acquisitions of materials are normally charged to the Purchases account.

B. The use of direct materials gives rise to a debit to Work-in-Process Inventory.

C. The use of indirect materials gives rise to a debit to Manufacturing Overhead.

D. The use of indirect materials gives rise to a credit to Manufacturing Supplies Inventory.

E. Direct materials are accounted for in a different manner than indirect materials.

A typical job-cost record would provide information about all of the following items related to an order except:

A. the cost of direct materials used.

B. administrative costs.

C. direct labor costs incurred.

D. applied manufacturing overhead.

E. direct labor hours worked.